MILAN Dec 11 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)