Mon, Dec 11, 2017
A A A
Welcome mteam
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Libya bet $1bln on SocGen shares

Posted on 03 June 2011

Société Générale structured a $1 billion (€690 million) bet on its own shares for Libya’s sovereign wealth fund after the Jérôme Kerviel fraud. Documents seen by the Financial Times show the transaction – the Libyan Investment Authority’s biggest investment in five years – had lost 71 per cent of its value by mid-2010.
The authority entered into the transaction in early March 2008, barely a month after Mr Kerviel’s €50 billion of rogue trades left the bank with losses of €5 billion………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
banner
December 2017
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031