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EL - EssilorLuxottica SA News Story

€140.7 1.4  1.0%

Last Trade - 07/05/21

Consumer Cyclicals
Large Cap
Market Cap £53.60bn
Enterprise Value £56.68bn
Revenue £12.56bn
Position in Universe 18th / 848

ECB gives Italy's Del Vecchio green light to lift Mediobanca stake above 10% - ANSA

Wed 26th August, 2020 1:22pm
ROME, Aug 26 (Reuters) - Eyewear tycoon Leonardo Del Vecchio
has won approval from the European Central Bank to lift his 9.9%
holding in Mediobanca  MDBI.MI  above the 10% threshold, Italian
news agency ANSA reported on Wednesday, opening the way for a
long-expected shakeup in key sectors of Italian finance.
    Del Vecchio, the 85-year-old founder of Ray-Ban owner
Luxottica, had filed the request with the ECB on May 29, after
becoming Mediobanca's biggest shareholder last year, to the
surprise of the market and the bank's management.
    The influential Milanese merchant bank has not had a single
non-banking shareholder owning more than 10% since it was
founded in 1946.

 (Reporting by Giselda Vagnoni; Editing by Hugh Lawson)
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