Reuters scoops competitors on Generali`s interest in Russia`s VTB

Reuters beat competitors by nearly two hours with news that Europes No.3 insurer Generali was interested in purchasing up to 1 pct of Russian bank VTB for around $300 million, part of Russias plan to sell 10 pct of its No.2 giant bank in a privatisation drive. Shares in Italys Generali rose 2.2 percent in early trading after the news, partly on the back of its prospective expansion plans into Europes biggest high-growth market. The source-based Feb. 7 story was confirmed by the official prospectus and only matched by competitor Bloomberg nearly two hours later.