Any decisions on investment ‌vehicle Delfin's holdings in Italian financial institutions -- including insurer Generali (GASI.MI), opens new tab and bank Monte dei Paschi di Siena (BMPS.MI), opens new tab -- will be taken by its board, its Chair Francesco Milleri said on Tuesday.

UniCredit CEO Andrea Orcel has downplayed speculation about deeper cooperation with Italian insurance giant Generali, stressing that any recent discussions are strictly related to existing commercial partnerships.

One of the large Generali signs atop the Italian insurer’s headquarters in Milan partially collapsed on Monday, remaining perched on the 170-meter (558-foot) skyscraper but posing a risk of falling, according to firefighters.