Italian billionaire Del Vecchio raises stake in Generali to 5%

MILAN, Sept 10 (Reuters) - Italian billionaire Leonardo Del Vecchio has further raised his holding in Assicurazioni Generali , to 5%, in Italy’s top insurer through its holding company Delfin.

Del Vecchio, the main shareholder of Italian merchant bank Mediobanca and the founder of Ray-Ban eyewear maker EssilorLuxottica, has increased his stake by 0.09% in the last two days, two regulatory filing showed on Friday.

Mediobanca is the biggest investor in Generali, followed by businessmen Francesco Gaetano Caltagirone and Leonardo Del Vecchio.

Trieste-based Generali is due to appoint a new board in spring and speculation has mounted over the future of Chief Executive Philippe Donnet due to tensions among top shareholders.

Reporting by Elisa Anzolin; Editing by Richard Chang