Italy’s Billionaire Del Vecchio Boosts Mediobanca Stake
- Luxottica founder confirmed as single largest shareholder
- Berlusconi’s Fininvest sold a 2% stake in the bank Monday
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Luxottica founder Leonardo Del Vecchio raised his stake in Mediobanca SpA to 15.4%, consolidating his grip as the single largest shareholder of the Italian investment bank.
Del Vecchio boosted its stake from 13.17% via its Delfin Sarl investment company on Monday, according to a Consob filing. The same day Silvio Berlusconi’s Fininvest sold its entire position, exiting the bank after about 13 years. Fininvest’s decision was linked to the “rationalization and re-balancing of its financial investment portfolio,” according to a statement.