The institution intends to launch the buyback "immediately" after the closing of the first 3.34 billion tranche, which was launched in early April and is scheduled to be completed by the end of June, says a note from the institution.

For the new buyback tranche of no more than, taking into account the first tranche, 230 million shares, UniCredit has extended the mandate already given to Bnp Paribas Exane.

In the Italian Stock Exchange, the stock extended its rises, and around 3:30 p.m. marks an increase of 1.35 percent.

(Andrea Mandalà, editing Claudia Cristoferi)