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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

UniCredit reviewing whether bank’s Libyan investors independent

Posted on 07 September 2010

From Bloomberg: Italian stock market regulator Consob and the Bank of Italy asked UniCredit to prove that the two investors are independent entities after the Libyan Investment Authority, a sovereign wealth fund, bought a 2.1 percent stake in the lender in July.
The Libyan fund and the Central Bank of Libya, which owns a 5 percent stake, would violate UniCredit’s statute if they were determined to be a sole entity because the bank restricts voting rights to 5 percent……………………………………….Full Article: Source


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