French financial services firm Credit Agricole has confirmed the sale of a 3.6% stake in Italian banking group Intesa Sanpaolo for a total price of E2.5 billion.
The confirmation of the transaction follows a previous announcement in October 2006, when Credit Agricole stated that it intended to reduce its stake in the Italian banking firm.
The finalization of the sale now leaves Credit Agricole holding around 649 million ordinary shares and around 92 million saving shares, representing 5.8% of the capital of Intensa Sanpaolo and 5.5% of the voting rights.