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American Blackrock becomes Unicredit's top shareholder

U.S. investment house boosts stake in Italian bank to 5.2%

14 March, 15:41
American Blackrock becomes Unicredit's top shareholder (ANSA) - Milan, March 14 - Blackrock, a US-based investment-management corporation, has increased its stake in Italy's Unicredit to 5.2%, making it the bank's top shareholder, market watchdog Consob said on Friday.

Investors in listed Italian companies need to notify Consob if their stake is over 5%.

The US giant has increased its holding in the bank from 4.9%, becoming its leading shareholder ahead of Aabar Investments, the Abu Dhabi-linked investment vehicle, and Russian-backed private equity firm Pamplona, both of which have a 5% stake.

Blackrock has also pulled ahead of Italian foundations including Cariverona, which has a 3.5% stake.

Blackrock has also recently increased to 5% its investments in another Italian bank, Unicredit's rival Intesa San Paolo.