October 28, 2019 / 9:25 AM / 4 months ago

Bollore has cut stake in Mediobanca to 6.73%

MILAN, Oct 28 (Reuters) - French businessman Vincent Bollore has reduced his stake in Mediobanca and has now been replaced by billionaire Leonardo Del Vecchio as the second biggest investor in the Italian merchant bank.

Reading out a list of shareholders at the bank’s annual general meeting, Mediobanca Chairman Renato Pagliaro said Bollore held 6.73% of Mediobanca. Bollore previously held 7.85% of the Milanese bank.

Leonardo Del Vecchio, who is calling for a strategy overhaul at Mediobanca after building a stake in the bank, currently has a 7.52% holding, Pagliaro said.

UniCredit is still the single largest investor with an 8.81% stake. (Reporting by Gianluca Semeraro, editing by Valentina Za)

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