Goldman Sachs's Significant Stake in UniCredit

MILAN (Reuters) – Goldman Sachs has derivative positions in UniCredit equivalent to a 6.7% stake in the Italian bank as of Sept. 30, primarily consisting of swap and future contracts as well as call options, according to a regulatory filing released on Monday.

The stake is held through Goldman Sachs International and nine other subsidiaries. If exercised, this would make the U.S. bank a leading investor in UniCredit, whose largest shareholder is fund manager BlackRock (NYSE:BLK) with 7.02%.

Additionally, filings with Italian market regulator Consob indicated that Barclays holds shares and derivatives as of Sept. 30 in Monte dei Paschi di Siena, which, if combined and exercised, would grant it a 5.3% stake in the lender.

These positions are held through Barclays Capital Securities Limited, Barclays Bank PLC, and Barclays Capital Inc., comprising a voting stake of just 0.92%, while the remaining 4.2% are long positions to be settled in shares.