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Alfa Buys More UniCredit

A fund backed by Mikhail Fridman's Alfa Group has bought 5 percent in UniCredit, making it the second-largest shareholder in Italy's biggest bank.

The stake, bought by London-based Pamplona Capital Management, is worth about 750 million euros ($935.33 million) at current market prices.

Pamplona, headed by former Alfa Bank chief executive Alex Knaster, owned just less than 2 percent of UniCredit, a stake too small to be made public under Italian disclosure rules. It has now added another 3 percent.

(Reuters)

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