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

Libya’s UniCredit stake sparks row

Posted on 22 September 2010

From Gulfnews.com: Libya’s central bank sought to deflect criticism from Italian politicians and a top shareholder about its stake-building in UniCredit. A financial source said on Friday the Libyan Investment Authority, Tripoli’s sovereign wealth fund, had raised its holding to 2.59 per cent.
Italian market regulator Consob and the Bank of Italy have requested clarification on the stakes and whether the two investors are independent of each other. Bank rules bar a shareholder from having a voting stake of more than 5 per cent……………………………………….Full Article: Source


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