November 11, 2019 / 3:21 PM / a month ago

Leonardo del Vecchio held 9.89% of Mediobanca as of November 6: filing

MILAN (Reuters) - Billionaire investor Leonardo Del Vecchio, Mediobanca’s biggest shareholder, held a 9.889% stake in the Italian investment bank as of Nov. 6, data from bourse watchdog Consob showed.

Del Vecchio, whose entry into Mediobanca in September fueled speculation of a shake up in Italian finance, is expected to increase his stake further, sources with knowledge of the matter have said.

The 84-year-old chairman of eyewear giant EssilorLuxottica (ESLX.PA) has called for Mediobanca, which has been at the center of Italian finance and business for decades, to return to its investment banking roots and expand through mergers and acquisitions.

Reporting by James Mackenzie, editing by Valentina Za

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