UniCredit investor calls for ‘extraordinary steps’ in new business plan

FAN Editor
FILE PHOTO: Unicredit bank logo is seen on a banner downtown Milan
FILE PHOTO: UniCredit bank logo is seen on a banner downtown Milan, Italy, May 23, 2016. REUTERS/Stefano Rellandini/File Photo

October 18, 2019

VERONA, Italy (Reuters) – The head of a leading shareholder in UniCredit <CRDI.MI> said he hoped Italy’s biggest bank would take “extraordinary steps” under a new business plan to counter a poor share price performance.

Chief Executive Jean Pierre Mustier is due to present UniCredit’s new business plan at the start of December.

Alessandro Mazzucco, chairman of Fondazione Cariverona which is UniCredit’s biggest Italian shareholder with a 1.8%, said the charitable banking foundation was anxiously awaiting the new plan.

“We are worried about the bank’s share price performance,” he said. “This obligates us to pay close attention to the plan and we hope for extraordinary steps … which can make the bank look more attractive, calling attention to it and boosting its visibility.”

(Reporting by Riccardo Bastianello; writing by Gianluca Semeraro, editing by Valentina Za)

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