June 21, 2018 / 4:17 PM / 3 months ago

Italy's Unipol to start acquisition of 5.2 pct of BPER Banca

MILAN, June 21 (Reuters) - Italy’s Unipol Group said on Wednesday it had started buying a 5.2 percent stake in regional lender BPER Banca, in a reverse accelerated book-building operation.

The group said it would pay no more than 4.72 euros per shares and that it had already received a green light from the European Central Bank (ECB) and Italian authoties to own a stake of more than 10 percent in BPER.

Unipol, which already holds 9.87 percent of BPER through its insurance arm UnipolSai, said it could not exceed 19.9 percent of the lender.

Reporting by Stephen Jewkes and Giulia Segreti

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