US fund manufacturer BlackRock has raised its stake in Italy's biggest retail bank Intesa Sanpaolo to 5.004%.
US fund manufacturer BlackRock has raised its stake in Italy’s biggest retail bank Intesa Sanpaolo to 5.004%.
BlackRock has become Intesa Sanpaolo’s second biggest investor, surpassing Fondazione Cariplo which currently owns 4.946% of the company.
This is a significant increase of BlackRock’s stake in the Italian retail bank as the US fund manufacturer previously held less than 2%.
The Sanpaolo Group remains the first shareholder with a 9.713% stake, followed by BlackRock, Fondazione Cassa di risparmio di Padova e Rovigo (4.514%), Ente CrFirenze (3,319%), Assicurazioni Generali (2,629%)and Fondazione CrBologna (2,022%).
The news follows that of a controversial row between BlackRock and Italy’s Telecom Italia on the US company shares in the company.
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