I read the news today, Oh boy
200 hundred holes in roads in Hungary,
Unlike Blackburn, these holes are not so small,
They’ve had to map them all,
Enough to drive Generali up the wall.

(Apologies to Lennon & McCartney. )

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Petr Kellner is the Czech Republic’s richest man and this week’s deal that has Italy’s Generali paying €2.5bn to buy out the 49 per cent of an insurance joint venture with Kellner’s PPF that it does not already own will make him even wealthier.

The deal gives Generali full control over the joint venture that has seen rapid growth since it was formed in 2007. Read more