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Berlusconi's holding sells Mediolanum stake for $348 mln
December 11, 2013 / 8:11 AM / 4 years ago

Berlusconi's holding sells Mediolanum stake for $348 mln

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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