U.S. investment firm Blackrock (BLK.N) has lowered its stake in Italian cooperative bank Banco Popolare (BAPO.MI), according to a regulatory filing on Friday which showed a holding of 4.91 percent as of Nov. 21.
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New York-based BlackRock Inc said civil proceedings were started by Italy's securities regulator against Nigel Bolton, one of its money managers, over the trade of Saipem's shares last year, Bloomberg reported.
According to an Italian daily, market regulator Consob is investigating Camfin's offer for Pirelli shares if the same is properly valued.
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