Fondiaria-Sai makes way for merger with €135m Mediobanca sale

By Andrew Griffin
10 Oct 2013

Italian insurer Fondiaria-Sai sold a €135m stake in investment bank Mediobanca on Wednesday night, making way for its merger with a peer.

Fondiaria-Sai sold 23.1m shares, around 2.7% of the company, for €5.85 each. That was a 2% discount to Wednesday's €5.97 close.

The Italian insurer must sell all of its stake in Mediobanca as part of anti-trust authority stipulations around a merger with peer Unipol Gruppo Finanziario. It holds 1.15% ...

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