Financial and Banking News

INVESTMENT ACTIVITIES

Libya Will Not Dilute Fiat Stake

The Government of Libya, which in 1977 acquired a 13.6% stake in the Fiat group of Italy, is to maintain its shareholding at its original level by taking up its entitlement in the L760bn ($405mn) rights issue now being planned. This was revealed last week by the Fiat group's Managing Director, Mr. Cesari Romiti, who reiterated that the Libyan involvement in Fiat was purely financial. On the basis of its...