UBS cuts stake in Italy's Banca Carige to 1.8 pct-Consob

MILAN, July 9 Wed Jul 9, 2014 6:46am EDT

MILAN, July 9 (Reuters) - Swiss-based bank UBS downsized its stake in Italian mid-sized lender Banca Carige to 1.8 percent from 4.05 percent on June 30, a regulatory filing by Italian market regulator Consob showed on Wednesday.

Carige said on Friday it had raised 798.2 million euros ($1.09 billion) in a highly-dilutive rights issue that was 99.9 percent subscribed, strengthening its balance sheet ahead of a European review of banking assets.

(Reporting by Oleg Vukmanovic; editing by Agnieszka Flak)