November 7, 2019 / 9:33 AM / 12 days ago

Italy's Del Vecchio lifts stake in Mediobanca to just below 10%-source

MILAN, Nov 7 (Reuters) - Italian eyewear billionaire Leonardo Del Vecchio has raised his stake in Mediobanca to just below 10% after buying around 2.5% in a UniCredit placement completed on Wednesday, a source with knowledge of the matter said on Thursday.

Italy’s largest bank UniCredit said on Wednesday it had sold its 8.4% stake in the investment bank, in a move that left Del Vecchio as Mediobanca’s biggest shareholder after he built up a 7.5% stake in September and October.

A spokesman for Delfin, the holding company of Del Vecchio, declined to comment. (Reporting by Gianluca Semeraro, additional reporting by Claudia Cristoferi, editing by James Mackenzie)

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