After Intesa Sanpaolo, Unicredit also starts reducing its stake in the capital of the Bank of Italy. The institute led by Federico Ghizzoni has signed the preliminary contracts for the sale of the 3,2% stake for around 240 million.
Previously, Intesa had communicated a similar operation on 5,7% of Bankitalia's capital. Both assignments are subject to the positive outcome of the verification by the Superior Council of the Bank of Italy of the existence, on the part of the purchaser, of the necessary requirements.
Unicredit controlled 66.342 shares of Bankitalia, equal to 22,1% of the capital. In January 2014, a government measure established the revaluation of Bankitalia's shares from 156 euros – the same value since 1936 – to 7,5 billion, thus allowing shareholder banks to strengthen their assets.
At the same time, however, a three-year period was set within which subjects exceeding the 3% threshold would have to sell the excess shareholding. In theory, therefore, there would be time until the beginning of 2017 to sell.
