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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

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