A PYMNTS Company

Italy: Italy’s Fondiaria moves Mediobanca stake to escrow account

 |  September 25, 2012

Debt-stricken Italian insurer Fondiaria-SAI’s bought a 3.9 percent stake in investment house Mediobanca and it might be a move to escrow account to comply with antitrust requirements for Fondiaria’s merger with Unipol. Italy’s antitrust authority said in June that its approval of the merger was conditional on Fondiaria selling its Mediobanca stake by the end of 2013 and the transfer was agreed as a measure to sterilize the stake’s voting power until a sale is completed.

Full Content: Reuters

Related Content: Unipol-Fondiaria merger approved, with conditions (June)

Related Content: Medioblanca prepared to sell Fondiaria and Unipol shares for merger (May)

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.