| BUSINESSWEEK ONLINE : MAY 17, 1999 ISSUE | ||||||||
| ||||||||
 | ||||||||
| INTERNATIONAL BUSINESS
The Bitter End of a Long Marriage 1946 Mediobanca founded in Milan to help Italian industry reconstruct after World War II. Principal shareholders are state-owned banks. 1960-1998 An alliance with Fiat's Agnellis puts Mediobanca and Lazard at the heart of Italian dealmaking. Lazard chief Andre Meyer becomes close adviser to Fiat's Gianni Agnelli. The two banks broker key deals, ranging from oil to U.S. real estate. 1973 Mediobanca and Lazard sign first shareholder pact for joint control of giant insurer Assicurazioni Generali. 1997 Mediobanca star Gerardo Braggiotti forced out after losing a power struggle over succession with 92-year-old Honorary Chairman Enrico Cuccia. Joins Lazard. 1998 Cesare Romiti, a key Cuccia supporter, leaves chairmanship of Fiat in June, distancing Agnellis from Mediobanca. 1999 Lazard and Mediobanca increasingly on opposing sides in deals. In April, Mediobanca's board ousts Lazard partner Antoine Bernheim. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
|  |
 | |
Divorce, Italian-Style TABLE: The Bitter End of a Long Marriage INTERACT E-Mail to Business Week Online | |||
