Italy's biggest bank by assets UniCredit took a further step on Wednesday i...
FILE PHOTO: Yapi Kredi Bank headquarters is pictured in Istanbul, Turkey February 3, 2016. REUTERS/Murad Sezer/File Photo
The unwinding of the JV handed UniCredit a direct 31.9% stake in Yapi which would fall to 20% after the share placement. “The transaction is part of UniCredit’s on-going strategy to simplify its shareholdings and to optimize its capital allocation,” the bank said in a statement.
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