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Italian banks UniCredit SpA (UCG.MI) and Intesa Sanpaolo SpA (ISP.MI) said Tuesday they are placing their entire stakes in London Stock Exchange Group PLC (LSE.LN) to institutional investors through a bookbuilding process.
In separate statements, Intesa Sanpaolo said it was placing its 5.4% stake in LSE while UniCredit said it was offering on the market its 6.1% holding.
The banks appointed Morgan Stanley (MS) as bookrunner for the placements.
-By Giada Zampano, Dow Jones Newswires; +39 06 69766920; firstname.lastname@example.org