Abu Dhabi's sovereign wealth fund Mubadala Investment Co. PJSC cut its ownership in Italy's UniCredit SpA by more than half to roughly 2.02% from 4.99%, Bloomberg News reported Jan. 8, citing a filing by Italian market regulator Consob.

The sold shares are worth about €850 million based on the Jan. 7 closing price, the newswire said, adding that the fund had initially purchased its stake in the Italian lender in 2010 when it was valued at roughly €1.8 billion.