Business


Italy: Libya's strategy to take control of UniCredit is 'obvious'




Verona, 29 Oct. (AKI) - Libyan investors sought control of UniCredit as they built up stakes in Italy's largest bank, Flavio Tosi, mayor of the northern Italian city of Verona, told la Repubblica in an interview published on Friday.

“It’s obvious” there was an attempt to take over the bank, Tosi told the newspaper.

Verona-based Fondazione Cariverona's almost-5 percent stake inUniCredit makes it one of the company's biggest shareholders.

The banking foundation was among critics of former UniCredit chief executive Alessandro Profumo who oversaw the company as Libya built up its stake becoming the banks largest investor.

Tosi is a member of the Northern League party a close ally of prime minister Silvio Berlusconi - which had been vocal in its criticism of Profumo, who resigned in September.

The Libyan Investment Authority and the Central Bank of Libya together own about 7.6 percent of UniCredit.

UniCredit internal auditor Ranieri de Marchis is preparing a report that will be presented in coming days to a company committee on the possibility that UniCredit investors from Libya and Abu Dhabi are linked and together own 12.6 percent of the bank.






 

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