UniCredit to ask authorities to investigate possible market abuse

UniCredit to ask authorities to investigate possible market abuse

Reuters  | Jul 27, 2016 20:50

UniCredit to ask authorities to investigate possible market abuse

MILAN (Reuters) - UniCredit (MI:CRDI) will ask authorities to investigate possible market abuse in relation to media reports over its upcoming strategic review, which on Wednesday affected its share price and that of two of its units, the Italian bank said in a statement.

UniCredit said that, if necessary, it would "pursue other available means to ensure that its rights and reputation are protected."

The bank said its shares and those of its units FinecoBank (MI:FBK) and Bank Pekao (WA:PEO) had experienced "unusual ... price movements."

Shares in both UniCredit and its online broker Fineco fell 4 percent on Wednesday as the Milan stock market gained 1 percent (FTITLMS). Bank Pekao (WA:PEO) lost 3 percent.

Two sources told Reuters earlier on Wednesday that UniCredit was considering a cash call of more than 5 billion euros ($5.5 billion) and the sale of its remaining stakes in Fineco and Pekao.

Bloomberg News reported on Tuesday the bank was mulling a stock sale worth 5 billion euros and the sale of its entire stake in Pekao, citing people with knowledge of the matter.

© Reuters. Logo of UniCredit bank is on display in Moscow

($1 = 0.9053 euros)

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+

Download the App

More markets insights, more alerts, more ways to customize assets watchlists only on the App

Investing.com is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.