13.03.2013 - Libya wealth fund seeking SocGen explanation on $1 bln loss
Libya, whose sovereign wealth fund declined by at least $4 billion in value over the past four years, said its demanding an explanation from Societe Generale SA (GLE) on how it lost about $1 billion on derivative contracts. We have been in contact a number of times but have not received a satisfactory answer, Mohsen Derregia, the outgoing chairman and chief executive officer of the fund, said in an interview from Tripoli. We are pursuing this matter further...............................................Full Article: Source
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