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

By  |  September 25, 2012
Italy: Italy’s Fondiaria moves Mediobanca stake to escrow account

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.

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

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

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