July 8, 2019 / 4:03 PM / 2 months ago

Italy's UniCredit to sell remaining stake in Fineco via ABB

MILANO, July 8 (Reuters) - Italy’s biggest bank by assets UniCredit said on Monday it would sell its remaining 18.3% stake in online broker FinecoBank via accelerated book building.

UniCredit had sold an initial 17% stake of Fineco in May as a part of the bank’s efforts to bolster its financial strength.

Shares will be placed to certain institutional investors through an accelerated bookbuilding (ABB) process which will start immediately, the bank said in a statement.

Reporting by Gianluca Semeraro; editing by Giulio Piovaccari

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