Intesa and UniCredit place stakes in LSE
Italian banks UniCredit and Intesa Sanpaolo have launched a placing of existing ordinary shares in the London Stock Exchange to institutional investors.
Final terms will be determined through a bookbuilding process, the banks said today.
Intesa Sanpaolo is placing the whole of its 5.4% stake on the LSE, while UniCredit is placing all of its 6.1% stake.
Morgan Stanley had been appointed as bookrunners by both banks, while Banca IMI and UniCredit Bank AG, London branch, will act as passive joint-bookrunners.