UniCredit’s chief executive, Jean Pierre Mustier, moved fast this week to sell €1bn of stock in FinecoBank, the Italian bank’s online brokerage, after a decision to deconsolidate the unit. Many in the market see UniCredit's accelerating asset sales as an effort to boost its capital position before exploring M&A opportunities in 2020. Aidan Gregory reports.
Mustier is due to present his business plan for the next three years to shareholders in December but has so far offered few clues about what it will contain. The disposal of one of UniCredit’s former trophy assets will only heighten speculation.
Mustier has consistently refused