UniCredit exits Mediobanca ahead of new strategy launch

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By Aidan Gregory
07 Nov 2019

UniCredit sold its entire stake in Mediobanca through a €784m block trade on Wednesday night, before announcing its third quarter results on Thursday morning.

The sale, led by Bank of America, Morgan Stanley and UniCredit’s own investment bank, came after a rally in the EuroStoxx Banks Index in recent weeks, propelled by renewed quantitative easing by the European Central Bank.

Shares in Mediobanca had risen 47% over the past 12 months and closed ...

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