Tripoli, 7 June:
The . . .[restrict]Central Bank of Libya is to keep its 9.2-percent share in the Italian bank UniCredit. The decision was confirmed by Central Bank Governor Saddek Elkaber on Monday. The value of the holding is put at €3.1 billion.
However, Elkaber also disclosed that the bank does not intend to pursue a policy of investing outside the country at the moment. He also said that Libya had been in contact with the Rome authorities regarding other Libyan holdings assets in Italy frozen by the Italian authorities. These include stakes in state oil and gas giant Eni’s oil, the Finmeccanica group of defense companies, carmakers Fiat and Juventus football club as well as numerous properties including a hotel complex on the Italian island of Pantelleria.
The statements about the UniCredit investment but not otherwise generally investing abroad at present is being seen as suggesting that many of Libya’s other investments will be put up for sale.
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