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Italy: Insurer likely to make divesture following antitrust ruling

 |  August 23, 2013

Italy-based insurer Unipol will soon divest its 3.8 percent stake in Mediobanca as part of an agreement with the nation’s antitrust regulator, sources said. The news was soon confirmed by a press release offered by Mediobanca on Friday. Unipol was required to divest the stake by the end of this year following its buyout of Fondiaria-SAI. Sources told reporters Unipol will likely remedy the competition concerns raised by the transaction by placing its Mediobanca stake up for sale rather than selling it to the remaining members of a shareholders agreement with the bank.

Full Content: Reuters

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