September 22, 2017 / 5:28 PM / 10 months ago

Mediobanca shareholder pact likely to be renewed for two years, may be dissolved earlier

MILAN (Reuters) - Only tyremaker Pirelli has notified Mediobanca that it wants to exit the bank’s shareholder pact and other investors are likely to renew the pact for another two years, Mediobanca said in a statement on Friday.

Mediobanca’s shareholder pact comes up for renewal at the end of the year and investors have until the end of this month to decide whether to exit it.

Once renewed, the pact would remain in place until the end of 2019, unless sufficient shareholders decide to take advantage of a possibility to exit it by the end of 2018 - an option that was adopted on Friday.

Mediobanca’s shareholder pact remains intact as long as investors with a combined holding of 25 percent remain in it.

Members of the investor pact include Italian bank UniCredit and French business tycoon Vincent Bollore.

Reporting by Gianluca Semeraro and Agnieszka Flak; Editing by Crispian Balmer

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