ECB clears Del Vecchio to lift Mediobanca stake past 10% - source

Credit: REUTERS/FLAVIO LO SCALZO

The European Central Bank has given clearance to eyewear tycoon Leonardo Del Vecchio to lift his 9.9% holding in Mediobanca above the 10% threshold, a source close to the dossier said on Wednesday.

MILAN, Aug 26 (Reuters) - The European Central Bank has given clearance to eyewear tycoon Leonardo Del Vecchio to lift his 9.9% holding in Mediobanca MDBI.MI above the 10% threshold, a source close to the dossier said on Wednesday.

The move, which further reinforces Del Vecchio's position as Mediobanca's biggest shareholder, opens the way for a shakeup in key sectors of Italian finance, with speculation focusing on insurer Generali GASI.MI.

Mediobanca is Generali's biggest shareholder, with a 13% stake and Del Vecchio, who holds a further 4.8% stake of his own, has said he aims to create a stable ownership base for both Mediobanca and Generali.

(Reporting by Stefano Bernabei; writing by James Mackenzie)

((james.mackenzie@thomsonreuters.com; +39 02 66129533 ; Reuters Messaging: Reuters Messaging james.mackenzie.reuters.com@reuters.net))

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