Billionaire Caltagirone Raises Mediobanca Stake to Almost 10%

Billionaire Francesco Gaetano Caltagirone has boosted his stake in Mediobanca SpA to almost 10%, according to people familiar with the matter, giving him more influence over the lender.

Caltagirone previously owned 7.4% in Mediobanca, according to the bank’s website.

The billionaire is critical of Mediobanca Chief Executive Officer Alberto Nagel and the takeover bid Nagel has launched for Banca Generali, the wealth management arm of Italy’s biggest insurer, Assicurazioni Generali SpA.

Read More: The Billionaire Who Would Revive Generali by Preventing a Deal

Mediobanca owns a 13% stake in Generali and Caltagirone has been critical of that holding, too. ...