(ANSA) - MILAN, FEBRUARY 27 - Axa has launched an accelerated bookbuilding process to sell its stake in Mps, equal to 7.94% of the capital.
The placement, entrusted to Exane Bnp Paribas, takes place at a price between 2.33 and 2.47 euros, with a 10-15% discount on today's closing price of the stock, reads a message to investors.
The sale of Axa's share in Mps "has no impact on Axa's partnership with the bank or Axa's commitment on the Italian market", specifies the French company.
"As a long-standing partner in the joint-venture" in bancassurance "Axa supported the bank by participating in its most recent capital increases as a financial investment".
"As Axa does not intend to seek representation on the bank's board at the next shareholders' meeting, or influence the bank's long-term strategy, Axa believes it is time to sell its stake acquired with the capital increase."
At the end of the sale of the shares, Axa will maintain a 0.0007% stake in the capital in MPS.
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