Carlo Tassara sold 231.3 million shares of Intesa Sanpaolo

MILAN Mon Jul 7, 2014 2:23pm EDT

An Intesa Sanpaolo Bank logo is seen in Milan October 1, 2013.  REUTERS/Stefano Rellandini

An Intesa Sanpaolo Bank logo is seen in Milan October 1, 2013.

Credit: Reuters/Stefano Rellandini

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MILAN (Reuters) - Italian holding company Carlo Tassara said on Monday it had sold 231.27 million shares of Italy's biggest retail bank Intesa Sanpaolo (ISP.MI) in recent months.

In a statement Carlo Tassara, the holding company for French financier Romain Zaleski, said the shares that it had sold had been previously given to creditor banks by way of guarantee for loans.

The sale of the shares, together with the sale of other stakes, have helped cut the debt of Carlo Tassara to 862 million euros at June 30 from 1.551 billion euros at the end of 2013, it said.

(Reporting by Stephen Jewkes; editing by Oleg Vukmanovic)

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