The newly minted CEO of Pioneer Investments [see profile] parent Unicredit thinks that a complete sale of Pioneer is unlikely.

Federico Ghizzoni UniCredit CEO

"We are not stopping the (sale) process," Federico Ghizzoni told a German newspaper, comments that were later picked up by Reuters. "We can imagine going for a 50-50 joint venture and we can also imagine UniCredit going below a shareholding of 50 percent."

Ghizzoni, who took the helm of UniCredit in September after the ouster of Alessandro Profumo, added: "A complete sale is rather unlikely."  

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