Fininvest ordered to reduce Mediolanum share
The Bank of Italy has ordered former Italy’s PM Silvio Berlusconi to cut his share in the Mediolanum Group to 9.9%.
The Fininvest Group, the financial holding company controlled by the Berlusconi family, was one of the founding partners of the Mediolanum Group and until yesterday owned 35.13% of the company.
The Bank of Italy has told Fininvest it has three months to set up a trust fund into which it must transfer its 20% stake, as its owner Berlusconi has lost his honourableness criteria as partner.
In an official statement, the Mediolanum Group said the holding will keep strengthening its presence in Italy, as it has done over the years through its 40% stake.