EJF holds more than 10% in doValue, could increase stake up to 20%-filing

MILAN, Jan 16 (Reuters) - EJF Investments has lifted its stake in Italy’s biggest bad loan specialist doValue above 10% and could increase its shareholding to up to 20% depending on market conditions, the hedge fund said in a filing to market watchdog Consob.

As of Jan. 9, EJF held 10.74% in doValue, up from a previous 9.4%, a regulatory filing showed.

“EJF does not intend to acquire the control of doValue or in any case to have an influence on the management” of the company, the hedge fund said in the document.

EJF added that it “does not plan to submit a proposal to the shareholders’ meeting of doValue regarding the appointment or the removal of members of doValue’s administrative, managing and supervisory bodies”. (Reporting by Gianluca Semeraro, editing by Giulia Segreti)