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Aabar buys 4.99% stake in Italian bank UniCredit

26 June 2010

Mohamed Badawy Al-Husseiny, chief executive of Abu Dhabi's Aabar has said the firm has taken advantage of the weaker euro to buy a 4.99% stake in UniCredit worth $2.48bn, becoming the Italian bank's second-biggest shareholder, Reuters has reported. "With the decline in the euro, wherever we see good opportunities that fit our profile, we will pursue this," he said. Aabar has become UniCredit's second-biggest shareholder, according to its website.

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