Abu Dhabi fund cuts stake in Italy's UniCredit bank

Abu Dhabi sovereign wealth fund Mubadala more than halved its shareholding in Italian bank UniCredit as the holder of about 6% of the world’s oil reserves sells stakes in overseas assets.

The fund’s stake declined to about just over 2% as of December 20, according to a filing by the Italian market regulator, down from a 4.99% stake in June, Consob said in a statement.