Bank of Italy to receive €1bn for liquidating holding in equity firm
Bank’s shareholding began when shares in insurance company transferred to strategic fund
Italy's central bank announced the ending of its shareholding of approximately €1 billion in the partly state-owned financial company, CDP Equity, on August 5.
The Bank of Italy said in a statement in Italian that it was liquidating its holdings of 13% of the firm's preferred shares and 7% of its ordinary shares. A spokesman said in an email to Central Banking that the bank expected to end its shareholding and receive the agreed fee "by the end of 2016".
The central bank would be paid €969
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