Skip to content
Subscriber Only

UniCredit Boosts Charges for CEO’s Clean-Up as Share Sale Looms

  • Bank said to review terms of rights offer on Wednesday
  • UniCredit may start 13 billion-euro sale as soon as Monday
Updated on

UniCredit SpA is betting investors will shrug off Chief Executive Officer Jean Pierre Mustier’s bigger-than-expected clean-up charges in the run-up to its 13-billion-euro ($14 billion) share sale.

Directors of Italy’s biggest bank will meet Wednesday to review terms of the offer that may start as soon as Monday, according to people familiar with the matter. Mustier is seeking to accelerate the bank’s share sale to minimize the gap between losses due to overhaul of the lender’s finance and fresh money coming from the capital increase.