US investment bank Lehman Brothers has cut its stake in Italian cement group Italcementi to under the threshold of two per cent, Italian stock market regulator Consob reported on November 18, 2005.
The operation was made on November 11, 2005, Consob added.
Previously Lehman Brothers held a 2.053 per cent stake in the Italian cement group. Lehman Brothers held the 2.053 pct stake in Italcementi on November 1, 2005, Italian news agency ANSA reported on November 11, 2005. The stake was held indirectly through Lehman Brothers International Europe. Italcementi posted a net profit of EUR369.9m ($435.7m) in the period January to September 2005, up by two per cent YoY.