Mediobanca, Del Vecchio is aiming for 20 percent. Authorization requested from the ECB

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MILAN – Leonardo Del Vecchio goes ahead with its project to diversify the activities of its financial Delfin, and through the Bank of Italy it forwards the request for authorization to go up to 20% of Mediobanca to the European Central Bank. Today the financial activities of Del Vecchio – that is 4.85% of Generali, 2% of Unicredit (2%) and 9.9% of Mediobanca – are worth about a fifth of his personal assets, which at the end of 2019 represented roughly 25 billion.

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According to the Forbes Ranking, Del Vecchio, 85, is the richest entrepreneur in Italy and the heart of his luck is in 30.2% of Essilor Luxottica, the world optics giant born in 2018 from the merger between the company of French lenses and the tricolor leader of eyewear.

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The fact is that last September, knowing that the first two shareholders of Piazzetta Cuccia – that is, the French entrepreneur Vincent BollorĂ© and Unicredit – were ready to leave Mediobanca, Del Vecchio studied the investment together with his consultants, Vittorio Grilli di Jp. Morgan for the financial part, and the lawyer Sergio Erede for the legal part, and has decided to fill the void that would have been created to rebuild an Italian pole of tricolor finance.

And so the institute founded by Raffaele Mattioli and Enrico Cuccia in the post-war period, which was supposed to be super partes with respect to banks and entrepreneurs and carry out the privatization plan of the country, could soon find itself under the aegis of a single owner. Del Vecchio has always said that for him 20% of Mediobanca would be only an investment and a financial diversification, and that the reasons why he invested in the institution led by Alberto Nagel are dictated by the potential of the tricolor investment bank and its relative majority stake in Generali insurance (13%)

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