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Although he is French, Antoine Bernheim, Generali's chairman, wants to keep his firm in Italian hands.
ECONOMIST: European insurance
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Mr Galignani, furious at not even receiving the obligatory phone call from Mr Bernheim, sought to open negotiations.
ECONOMIST: Insurance mergers in Europe
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Generali's non-executive chairman, Antoine Bernheim, is a partner at Mediobanca and sits on its board, as does Mr Gutty.
ECONOMIST: Insurance
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Antoine Bernheim, one of France's most powerful investment bankers, had long thought that Athena would fit nicely with Generali, Italy's biggest insurer, whose board Mr Bernheim chairs.
ECONOMIST: Insurance mergers in Europe
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Mr Bernheim is also a Mediobanca partner.
ECONOMIST: Insurance mergers in Europe
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In his pre-Christmas message, Pope Benedict XVI rallied Catholics to oppose gay marriage by praising comments critical of gay marriage made by Gilles Bernheim, the chief rabbi of France, raising the prospect of an inter-faith alliance, according to many commentators.
CNN: Opinion: Why the fuss about gay marriage?
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Mr Bernheim will not comment.
ECONOMIST: Generali��s nightmare continues