{"id":114429,"date":"2021-05-17T22:56:11","date_gmt":"2021-05-17T22:56:11","guid":{"rendered":"https:\/\/fin2me.com\/?p=114429"},"modified":"2021-05-17T22:56:11","modified_gmt":"2021-05-17T22:56:11","slug":"italys-berlusconi-family-sells-mediobanca-stake","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/italys-berlusconi-family-sells-mediobanca-stake\/","title":{"rendered":"Italy's Berlusconi family sells Mediobanca stake"},"content":{"rendered":"

MILAN (Reuters) – Former Italian Prime Minister Silvio Berlusconi\u2019s family has sold its 2% stake in Mediobanca, in the latest change affecting the shareholder base of Italy\u2019s top investment bank.<\/p>

FILE PHOTO: A logo of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. REUTERS\/Flavio Lo Scalzo\/File Photo<\/figcaption>

The Berlusconi family\u2019s holding company Fininvest said on Monday that the transaction, from which it pocketed 174 million euros ($211 million), was part of a readjustment of its financial investment portfolio.<\/p>\n

The ownership of Mediobanca has been in flux since a core of long-term investors in the Milanese bank dissolved, paving the way for eyewear billionaire Leonardo Del Vecchio to emerge as its single biggest shareholder.<\/p>\n

Del Vecchio has been steadily increasing his Mediobanca stake reaching 13.2%. He has regulatory approval to get to just under 20%.<\/p>\n

Del Vecchio declined to comment on the Fininvest stake sale.<\/p>\n

Fininvest, which controls Italy\u2019s biggest commercial broadcaster Mediaset, had bought an initial 1% stake in Mediobanca in 2007 and then doubled it the following year.<\/p>\n

The holding has always been considered a purely financial investment.<\/p>\n

The disposal comes after Mediaset and its second-largest investor Vivendi this month ended a years-long legal war striking a deal that will see the French group drastically cut its stake in the Italian broadcaster.<\/p>\n

Under the accord, Fininvest in July will increase its current 44% holding to 49% and may raise it further in coming years as Vivendi sells down its stake.<\/p>\n

The move also coincides with rising concerns over the health of Berlusconi, 84, who has been in and out of hospital this year after contracting COVID-19 last September.<\/p>\n

Fininvest said in a statement the sale was intended \u201cto rationalise and rebalance its financial investment portfolio\u201d.<\/p>\n

Italian bank UniCredit acted as a broker on the transaction, two sources with knowledge of the matter said.<\/p>\n

Shares in Mediobanca have nearly doubled in value over the past 12 months, outperforming a 73% rise in Italy\u2019s banking index.<\/p>\n

The Milanese merchant bank is the biggest shareholder in Generali, Italy\u2019s top insurance group, in which Del Vecchio is also an investor.<\/p>\n

($1 = 0.8228 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MILAN (Reuters) – Former Italian Prime Minister Silvio Berlusconi\u2019s family has sold its 2% stake in Mediobanca, in the latest change affecting the shareholder base […]<\/p>\n","protected":false},"author":3,"featured_media":114428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nItaly's Berlusconi family sells Mediobanca stake - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/italys-berlusconi-family-sells-mediobanca-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Italy's Berlusconi family sells Mediobanca stake - Fin2me\" \/>\n<meta property=\"og:description\" content=\"MILAN (Reuters) – Former Italian Prime Minister Silvio Berlusconi\u2019s family has sold its 2% stake in Mediobanca, in the latest change affecting the shareholder base [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/italys-berlusconi-family-sells-mediobanca-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-17T22:56:11+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/05\/Italys-Berlusconi-family-sells-Mediobanca-stake.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/italys-berlusconi-family-sells-mediobanca-stake\/\",\"url\":\"https:\/\/fin2me.com\/markets\/italys-berlusconi-family-sells-mediobanca-stake\/\",\"name\":\"Italy's Berlusconi family sells Mediobanca stake - 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