Italy market watchdog probes UniCredit share move

MILAN Jan 5 (Reuters) - Italian market watchdog Consob said on Thursday it was probing a steep fall in UniCredit's MI> shares over the past two days to check whether a ban on naked short-selling had been respected.

UniCredit shares have lost more than 30 percent since it priced a 7.5 billion euro capital increase at a hefty discount on Wednesday.

They were suspended five times for excessive losses on Thursday, closing down 17.3 percent.

Consob last November announced a ban on naked short selling and also extended a ban on short selling in financial stocks until Jan. 15. (Reporting By Silvia Aloisi)