CBL Reduces Stake in UniCredit

Reuters reports that the Central Bank of Libya's stake in Italy's UniCredit has fallen from 4.613 percent to 2.913 percent.

The Libyan stake in Unicredit dropped below five percent after the bank’s capital increase in January 2012. Previously Libya was Unicredit’s largest shareholder; the Libyan central bank held 4.98 per cent and total Libyan presence amounted to 7.6 per cent taking into account shares held by the Libyan Investment Authority (LIA).

Both the Libyan central bank and the LIA only subscribed in part to the January 2012 rights issue. The LIA's holdings in UniCredit were unfrozen by the Court of Appeal in Rome in November.

(Sources: Reuters, CPI Financial)

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