Deals
Yapi Kredi Bank Tumbles as UniCredit Said to Weigh Stake Sale
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Yapi ve Kredi Bankasi AS fell most in more than 11 months after a report UniCredit SpA may sell its stake in Turkey’s fourth-largest listed lender.
Yapi Kredi Bank declined 5.6 percent to 3.72 liras at close in Istanbul, the biggest decline since June 8. The stock also pared its gains for 2016 to 13.1 percent. UniCredit SA, which is considering selling its holdings in online broker FinecoBank SpA, may also dispose of shares in Yapi Kredi Bank in Turkey and Bank Pekao SA in Poland to raise capital, people familiar with the matter said on Thursday. A spokesman for UniCredit in Milan declined to comment.