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Mediobanca shareholders have rejected a proposed €6.3bn acquisition of wealth manager Banca Generali, following a showdown vote that is set to determine the Italian lender’s future.
The Milanese bank said 32 per cent of investors had abstained, 10 per cent had rejected the proposal, and 35 per cent had accepted it, at a hastily arranged shareholder meeting on Thursday.
Mediobanca said its largest shareholder Delfin, the holding company for the billionaire Del Vecchio family, had abstained while its second-largest investor, Roman construction tycoon Francesco Gaetano Caltagirone, had rejected the proposal. The two investors hold a combined 28 per cent stake in the bank.
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