Fininvest must transfer 20 pct stake in Mediolanum to fund in 3 months


Oct 10 (Reuters) - Italy's Fininvest, the holding of former Prime Minister Silvio Berlusconi, has three months to set up a trust fund into which it must transfer a 20 percent stake in asset manager Mediolanum as part of sale request by the Bank of Italy, a source close to the matter said.

Once the fund is set up, it will have 30 months to get rid of the stake.

Fininvest has a 30 percent stake in Mediolanum. Earlier on Friday it said it had been told by the Bank of Italy that it must sell the portion of the stake exceeding 9.9 percent.