By  on January 10, 2018

MILAN — Brunello Cucinelli SpA shares closed down 6.57 percent to 27 euros on the Milan Stock Exchange on Wednesday following the decision by the namesake entrepreneur to sell 6 percent of his shares in the group a day earlier.

Through his company Fedone Srl, Cucinelli on Tuesday sold more than four million shares of the luxury group at 26 euros a share, for a total of around 106 million euros.

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