September 17, 2019 / 6:09 PM / a month ago

Italian billionaire Del Vecchio buys 6.94% of Mediobanca

MILAN (Reuters) - Italian billionaire Leonardo Del Vecchio has acquired a stake of 6.94% in Italian investment house Mediobanca (MDBI.MI), his holding company Delfin said on Tuesday.

Del Vecchio, the founder of eyewear company Luxottica, owns a stake of 4.86% in Italy’s biggest insurer Generali (GASI.MI) through Delfin.

Generali’s biggest shareholder is Mediobanca.

“We are a long-term investor (in Mediobanca) and will support and speed up creation of value for all stakeholders,” Del Vecchio said.

Reporting by Francesca Landini, editing by Stephen Jewkes

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