January 15, 2020 / 3:16 PM / 13 days ago

No request from Del Vecchio to lift Mediobanca stake past 10%-minister

MILAN, Jan 15 (Reuters) - Italian billionaire Leonardo Del Vecchio has so far filed no request with the Bank of Italy to increase his stake in Mediobanca above 10%, parliamentary relations minister Federico D’Inca said on Wednesday.

Del Vecchio, founder of eyewear group Luxottica, snapped up a stake of 7% in Mediobanca in September and then increased it to almost 10% last month, becoming Mediobanca’s top shareholder, after the bank’s decades-long partner UniCredit sold its own holding.

The businessman, whose entry into Mediobanca in September fuelled speculation of a shake up in Italian finance, is expected to increase his stake further, sources with knowledge of the matter said in November.

However D’Inca told a parliamentary hearing that Del Vecchio’s holding Delfin, “has not filed, as of Wednesday a request to the competent supervisory authority in order to increase his stake above 10%.” (Reporting by Gianluca Semeraro, editing by James Mackenzie)

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