Berlusconi's holding sells Mediolanum stake for $348 mln

MILAN Wed Dec 11, 2013 3:07am EST

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MILAN Dec 11 (Reuters) - Fininvest, the holding company of former prime minister Silvio Berlusconi, said on Wednesday it had sold 5.61 pct of asset management company Mediolanum at a price of 6.12 euros per share.

In a statement Fininvest, which controls Italian broadcaster Mediaset, said it had raised net proceeds of about 253 million euros ($348 million) through the accelerated bookbuilding process.

Shares in Mediolanum lost 4.6 percent by 0805 GMT at 6.125 euros.

UniCredit acted as sole bookrunner in cooperation with Kepler Cheuvreux.

($1 = 0.7261 euros) (Reporting by Stephen Jewkes, editing by Valentina Za)

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