Erste Group's main shareholder cuts stake

Newswire

VIENNA, Dec 5 (Reuters) - The foundation that is Austrian lender Erste Group Bank's biggest shareholder has cut its stake to 21.7 percent from 23.6 percent by selling 8.5 million shares to institutional investors in a private placement, it said. The Erste oesterreichische Spar-Casse Privatstiftung foundation said it sold the shares on Thursday to cut debt. It did not give a price for the placement, which at current prices would be worth around 210 million euros ($285 ...

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