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UniCredit S.p.A. (UNCRY)
- Reuters
Italy's foreign minister concerned by seizure of UniCredit assets in Russia
Italian Foreign Minister Antonio Tajani expressed concern at a meeting on Monday about a Russian court's decision to seize securities, accounts and property amounting to 5% of bank UniCredit's assets in the country. The meeting brought together representatives from UniCredit and various Italian ministries, as well as of Italian companies with operations in Russia. "We want to safeguard in every possible way the interests of our companies still operating in Russia," Tajani said in a statement.
- Reuters
Italy's foreign ministry to discuss Russian action against Unicredit on Monday
Italy's foreign minister and officials will meet on Monday to discuss Russia's recent action to seize assets or impose restrictive measures on Italian companies including UniCredit, sources with knowledge of the matter said. On Friday a Russian court ordered that UniCredit's assets, accounts and property, as well as shares in two subsidiaries, be seized as part of a lawsuit over an aborted gas project in Russia involving the Italian bank, court documents showed. The sources said on Sunday that the legal action against Unicredit and the difficult situation of other Italian companies with Russian operations would be debated at a meeting on Monday convened by Italy's Foreign Minister Antonio Tajani.
- Reuters
UniCredit CEO says reducing Russia exposure as local profit jumps
MILAN (Reuters) -UniCredit will accelerate the reduction of its local Russia exposure, the Italian bank's chief executive said, as profit at the Russian unit doubled in the first quarter. UniCredit Russia reported a first quarter net profit of 213 million euros ($229 million) on Tuesday, up from 99 million a year ago. After Austria's Raiffeisen Bank International, UniCredit is the European bank with the largest exposure to Russia, where it runs a commercial bank.
