Libya's sovereign wealth fund may take a stake in Italian power company Enel SpA (ENEI.MI) as part of the utility's planned capital hike, the Wall Street Journal reported on Wednesday.
In an interview, Chief Executive Fulvio Conti said the Libyan Investment Authority had expressed interest in taking a minority stake.
The fund could either buy shares in the open market or subscribe to an 8 billion euro ($10.9 billion) capital increase that Enel is planning in order to cut its debt, the newspaper quoted Conti as saying.
"We would welcome their ideas. It is premature to say how much and if and when they would participate," he said.
Hafed Gaddur, Libya's ambassador to Italy, told the newspaper Conti had travelled to Libya a week ago to make a presentation to the head of the fund.
"We are evaluating it. No decision has been made," he was quoted as saying. ($1=.7336 Euro)
Source: MILAN, May 13 (Reuters)
No comments:
Post a Comment