Euro-Zone Breakup Emerges as Buyer Risk in UniCredit Stock Sale
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UniCredit SpA is telling investors considering buying shares in the Italian lender’s 7.5 billion-euro ($9.6 billion) rights offer they should weigh the possibility that the euro may be abandoned.
“Concerns that the euro zone sovereign debt crisis could worsen may lead to the reintroduction of national currencies in one or more euro-zone countries or, in particularly dire circumstances, the abandonment of the euro,” UniCredit wrote in its prospectus published yesterday. A euro-area breakup could have “a significant negative impact” on the lender, it wrote.