The French group LAZARD has announced the merger of two of its holding companies, URAFRANCE and AZEO with the former making a bid for the latter. The offer, concerning 14.4 million shares not held by EURAFRANCE, represents and investment of 1.3 bn euro, or 90 euro a share. Furthermore, the Italian business banks MEDIOBANCA and LAZARD are to end their joint management of the insurer GENERALI (total premiums of 14 bn euro in the first half of 2000). According to the agreement, MEDIOBANCA will...