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Libya may use sovereign fund to acquire Enel stake
Source: BI-ME , Author: BI-ME staff
Posted: Wed May 13, 2009 11:23 am
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LIBYA. Libya may use its sovereign wealth fund to acquire a minority stake in Italian utility Enel, the Wall Street Journal reported, citing an interview with Enel Chief Executive Officer Fulvio Conti.

Libya could either buy shares on the open market or subscribe to part of the € 8 billion (US$10.9 billion) share sale the company plans to help it pay down debt, Conti told the Journal, adding that Libyan investment would be welcome although it was premature to say when and how it may happen.

Libyan ambassador to Italy, Hafed Gaddur, told the newspaper his country was still studying a presentation made by Conti to the Libyan Investment Authority.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 9, 2010
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.
date:Posted: February 8, 2010
INTERNATIONAL. Trying to achieve financial goals by pouring all of one's assets into emerging markets today, telecommunications tomorrow, and Japanese small-cap stocks next week is not a guarantee for achieving a sound financial plan.
date:Posted: February 8, 2010
INTERNATIONAL. The latest survey shows 46% of respondents expect their business travel to increase, marking a rise by 22 points compared with figures of the same period in 2009.
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.