Mediobanca shareholder Caltagirone sees no value in Banca Generali bid

ROME (Reuters) -Mediobanca and Generali shareholder Francesco Gaetano Caltagirone on Friday expressed a negative view on the lender's proposed acquisition of the insurer's private banking unit Banca Generali.

Caltagirone was speaking on the sidelines of the presentation of the Bank of Italy's annual report, where Governor Fabio Panetta said bank mergers had to create value, "first and foremost" for customers.

(Reporting by Valentina Za, writing by Alvise Armellini, editing by Giulia Segreti)