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BlackRock ups stake to become UniCredit's top shareholder
March 14, 2014 / 12:46 PM / 4 years ago

BlackRock ups stake to become UniCredit's top shareholder

A BlackRock building is seen in New York June 12, 2009. REUTERS/Eric Thayer

MILAN (Reuters) - BlackRock Inc (BLK.N), the world’s largest money manager, has raised its stake in UniCredit (CRDI.MI) to become the Italian bank’s largest shareholder, according to a filing posted on market watchdog Consob’s website on Friday.

Investors in listed Italian companies must notify Consob if their stake exceeds 5 percent.

BlackRock also recently increased its holding in UniCredit’s domestic rival Intesa Sanpaolo (ISP.MI) to 5 percent, and is thus Intesa’s second biggest investor.

Reporting by Gainluca Semeraro, editing by Silvia Aloisi

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