MILAN, Oct 25 (Reuters) - Italian billionaire Leonardo Del Vecchio barely raised his stake in Medio
MILAN, Oct 25 (Reuters) – Italian billionaire Leonardo Del Vecchio barely raised his stake in Mediobanca MDBI.MI to round 7.5% forward of the funding financial institution’s Oct. 28 annual shareholder assembly, two sources near the scenario mentioned on Friday.
Del Vecchio, the 84-year-old chairman of eye-wear big EssilorLuxottica ESLX.PA, rattled Italian finance final month when he unexpectedly grew to become Mediobanca’s third largest investor, snapping up a stake of 6.94% within the venerable service provider financial institution.
He has urged Mediobanca to construct its funding banking enterprise and develop by M&A, relying much less on shopper credit score and its most prized asset – a stake in Italy’s high insurer Generali GASI.MI.
However Mediobanca CEO Alberto Nagel, who is because of current a brand new marketing strategy on Nov. 12, instructed a convention name on Thursday that his progress technique was primarily based on natural assumptions and defended the financial institution’s growth into shopper credit score and wealth administration.
Del Vecchio just isn’t anticipated to attend…