UniCredit Potential Sale of Part of Russia Unit Could Help Shares -- Market Talk

Dow Jones05-07

0700 GMT - UniCredit's preliminary deal to sell part of its Russian subsidiary looks good as it removes a risk for the stock and results in a capital benefit that is better than expected, Keefe, Bruyette & Woods's Hugo Cruz and Ben Maher say in a research note. "Net-net, we think this announcement is positive for the equity story," the analysts say. The Italian bank expects a capital benefit of about 35 basis points, but a cumulative profit hit of between 3 billion and 3.3 billion euros. UniCredit added that the deal won't affect shareholder distribution nor profit ambitions. KBW says its adjusted EPS estimates for UniCredit already ignored the earnings of its Russian unit. (adria.calatayud@wsj.com)

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May 07, 2026 03:00 ET (07:00 GMT)

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