November 21, 2018 / 5:29 PM / a year ago

UniCredit management's job to evaluate options to add value: source close to Cariverona

Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. REUTERS/Stefano Rellandini

MILAN (Reuters) - UniCredit (CRDI.MI) investor Fondazione Cariverona believes it is the job of the bank’s management to evaluate options that would create value, a source close to shareholder, which owns 1.8 percent of the lender, said on Wednesday.

The source was commenting on a report in Il Sole 24 Ore, which said the lender was studying a plan to split its domestic and foreign operations to protect shareholders from Italy-related risk. UniCredit declined to comment on the report.

“It is the natural task of every top management to monitor all future scenarios and evaluate, from time to time, every option deemed valid for best business development and for the most appropriate valorization of the stock on the market,” the sources said.

Reporting by Gianluca Semeraro, writing by Agnieszka Flak

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