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Analysts question size of UniCredit rights issue

Bankers were congratulating themselves after the success of the €7.5bn deal, but doubts remain as to whether the Italian bank needed to raise so much capital via a rights issue

UniCredit and its bankers have been slapping each other on the back after a successful rights issue, but analysts are less than impressed, and have questioned the size of the UniCredit rights issue.

The rights issue has been a rollercoaster for bankers involved in the deal. UniCredit announced the €7.5bn rights issue on 4 January. The discount was 43% from the previous day's close, at €1.94.

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