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Nordea, the Nordic region's biggest bank by market value, said on Friday Finnish insurer Sampo Oyj had become its biggest shareholder, overtaking the Swedish state.
At the end of September, Sampo owned 800 million shares in Nordea, or around 19.8 percent of the stock, data published on Nordea's website showed.
The Swedish state owns 799.2 million shares.
At the end of August, Sampo said it would seek approval to increase its stake above 20 percent in Nordea.
Sampo had a 19.45 percent stake in Nordea on Aug. 25, up from 18.5 percent two weeks earlier.
Sampo Chief Executive Kari Stadigh said in August the company would hike its holding in Nordea to 20 percent by year end, allowing it to consolidate the Nordic bank's results, but added Sampo did not see the stake rising past 25 percent.
