UBS has cut its share in Italy’s Monte dei Paschi di Siena (Mps) to 2.150% from 2.617%, Italy’s regulatory body Consob said.
Of the remaining share, 1.973% does not include voting rights.
The news follows that of a net record loss
of €353m for Mps in the first half of 2014.
Earlier in August, UBS also announced the increase of its share in local cooperative bank Credito Valtellinese from 2.169% to 2.195%. UBS also increased its voting rights in Credito Valtellinese from 2.071% to 1.301%, according to Consob.