BlackRock ups stake to become UniCredit's top shareholder

MILAN, March 14 Fri Mar 14, 2014 8:38am EDT

MILAN, March 14 (Reuters) - BlackRock Inc, the world's largest money manager, has raised its stake in UniCredit to become the Italian bank's largest shareholder, according to a filing posted on market watchdog Consob's website on Friday.

Investors in listed Italian companies must notify Consob if their stake exceeds 5 percent.

BlackRock also recently increased its holding in UniCredit's domestic rival Intesa Sanpaolo to 5 percent, and is thus Intesa's second biggest investor.

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