UniCredit (UNCFF) shares rose briefly in Milan Monday after Italy’s largest bank confirmed it is in talks to sell its Pioneer Asset Management business to France’s Amundi.
Confirmation of the talks came amid the fallout from Sunday’s referendum that saw Italy’s electorate reject constitutional reforms put forward by Prime Minister Matteo Renzi, – prompting his resignation and casting a shadow of uncertainty across the Mediterranean nation’s political landscape.
UniCredit stock, which had turned positive to change hands at €2.06 each in the opening hour of trading, fell 3.1% by 10:00 GMT.
