MILAN, July 25 (Reuters) - Pamplona fund said on Thursday it had given a 4.01 percent stake it owns in Italian lender UniCredit to Deutsche Bank in exchange for financing.
The fund, backed by Russian billionaire Mikhail Fridman’s Alfa Group, said that Deutsche Bank was committed to returning the stake upon request so that Pamplona could exercise its voting rights at UniCredit’s shareholder meetings.
The statement by Pamplona was made at the request of Italian market regulator Consob.
Pamplona bought a 5.01 percent stake in Italy’s biggest lender by assets last year, becoming the bank’s second largest shareholder. (Reporting by Francesca Landini,editing by Silvia Aloisi)