UniCredito assumes Capitalia's BOV shares

UniCredito Italiano S.p.A has assumed the 14.55 per cent shareholding in Bank of Valletta previously held by Capitalia following a merger of the two organisations which became effective on October 1.

Capitalia had held 16,128,000 ordinary shares of 25c each.

The merger means UniCredito is the eurozone's biggest bank, wit a market capitalisation of some €100 billion.

The Italian media said that UniCredito is expected to sell Capitalia's 2 per cent stakes in RCS MediaGroup SpA, Pirelli & C SpA and Gemina SpA.

UniCredito and Capitalia have already announced plans to halve their combined 19 per cent stake in Mediobanca SpA and cut their stake in Assicurazioni Generali SpA. The disposal of some of the assets will be made at the request of antitrust authorities.