A New Zealand businessman has forked out nearly $5 million for a pristine island in the Mediterranean.
The businessman bought Budelli Island, considered to be one of the most beautiful islands in the Mediterranean, at auction for 2.94m euro (NZ$4.8m), after the previous owner went bankrupt, The Local website reported.
Budelli is part of the La Maddalena island group which lies between Sardinia and Corsica.
The New Zealander, who owns a business in Switzerland, has not been named by the Italian media but his lawyer, GiMura, described him as a "true environmentalist" who has been "in love with the Maddelena archipelago for decades", the Unione Sarda website said.