UniCredit SpA investor Libyan Investment Authority boosted its stake in Italy’s biggest bank since July and told the country’s stock market regulator that it’s a separate entity from the Central Bank of Libya, according to two people with knowledge of the matter.
The Libyan sovereign wealth fund informed Italy’s Consob in a letter that it purchased an additional 0.5 percent stake in the Milan-based lender, raising its holding to 2.6 percent, said the people, who asked not to be identified because the letter is confidential.
The Libyan Investment Authority, responding to requests from Italian regulators to clarify its position, also said it’s acting independently from the Central Bank of Libya, the people said. The central bank owns almost 5 percent of UniCredit, making it one of the top three investors in the bank.
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