March 7, 2014 / 11:53 AM / 4 years ago

Italmobiliare ready to sell shares in Unicredit, Mediobanca

MILAN, March 7 (Reuters) - Italian holding company Italmobiliare is ready to sell its stake in Unicredit as well as its shares in Mediobanca not linked to the investment bank’s shareholder pact, Italmobiliare’s managing director said on Friday.

The stakes will be sold to raise cash to take part in a capital increase at cement maker Italcementi, Carlo Pesenti said on the sidelines of a conference.

Pesenti is chief executive of Italcementi which on Wednesday approved a rights issue worth up to 450 million euros ($623 million).

Italmobiliare, which controls Italcementi, holds about 0.2 percent of UniCredit and a stake of less than 1 percent of Mediobanca shares not tied to the bank’s shareholder pact.

Pesenti also said Italmobiliare would not sell for now its stake in publishing house RCS Mediagroup. ($1 = 0.7225 euros) (Reporting by Andrea Mandala, writing by Stephen Jewkes; editing by Francesca Landini)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below