Unipol appeals against antitrust conditions for FonSai merger - sources

MILAN, Oct 11 (Reuters) - Italian insurer Unipol has appealed against conditions laid down by the competition regulator to give the green light to a planned merger with peer Fondiaria-SAI , two sources familiar with the situation said on Thursday.

The appeal to an Italian administrative court means the procedure for the sale of assets by Unipol is suspended, one of the sources said.

Merging Fondiaria with Unipol would create a company with 32 percent of Italy's non-life insurance market and around 37 percent of its motor insurance business.

To meet competition watchdog demands, Unipol had previously said it was ready to sell policies attracting 1.7 billion euros of annual premiums.

In January Mediobanca crafted a deal for Unipol to save the faltering Fondiaria. The merger is slated to be operative on January 1.

(Reporting By Andrea Mandala)


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