MILAN (AFX) - Saif Gadhafi, the eldest son of Libya leader Moammar Gadhafi, said the country should sell its stakes in Fiat SpA and in Capitalia SpA in quick time.
According to stock market regulator Consob, the Libyan state owns 5.0 pct in Capitalia, but gives no Fiat stake above the 2 pct disclosure level.
"The investment in Capitalia has been a bad investment, that in the end by luck has become good," Saif Gadhafi said in Milan.
"The investment in Fiat has been a bad decision," he said.
"I'm speaking in a personal capacity, but I think that we ought to sell both quickly," he told reporters.
Saif Gadhafi is a guest of Eni SpA CEO Paolo Scaroni at this evening's annual launch of Milan opera house La Scala's season, reports said.
In further comments, Gadhafi said Libya ought to sell its 7.5 pct in IFIL SpA unit Juventus Football Club SpA, adding he is not interested in football.
"For us it makes more sense to invest in companies like Finmeccanica SpA and Eni than in football companies," he said, noting falls in Juventus, which has been relegated to Italy's Serie B.
Gadhafi's third son Al-Saadi is a one-time board member at Juventus as well as being a player, albeit briefly for Perugia, then in Serie A.
http://www.sharewatch.com/story.php?storynumber=269905
Libya has put up for sale its 45% stake in Tamoil’s European business, which includes oil refining and petrol stations in Italy, Germany, Switzerland, the Netherlands and Spain. A decision is expected by year-end.
"We have not made up our mind," Islam said. "We can do it next year. We are not in a hurry."
Saying he was expressing his personal opinion, Islam said Lafico should sell its interests in Italian soccer club Juventus, car-maker Fiat and bank Capitalia.
"Juventus is not a strategic investment. We will pull out as soon as possible," he said, adding that it was up to the government to make such a decision.
http://www.gulf-times.com/site/topi...=121419&version=1&template_id=48&parent_id=28
According to stock market regulator Consob, the Libyan state owns 5.0 pct in Capitalia, but gives no Fiat stake above the 2 pct disclosure level.
"The investment in Capitalia has been a bad investment, that in the end by luck has become good," Saif Gadhafi said in Milan.
"The investment in Fiat has been a bad decision," he said.
"I'm speaking in a personal capacity, but I think that we ought to sell both quickly," he told reporters.
Saif Gadhafi is a guest of Eni SpA CEO Paolo Scaroni at this evening's annual launch of Milan opera house La Scala's season, reports said.
In further comments, Gadhafi said Libya ought to sell its 7.5 pct in IFIL SpA unit Juventus Football Club SpA, adding he is not interested in football.
"For us it makes more sense to invest in companies like Finmeccanica SpA and Eni than in football companies," he said, noting falls in Juventus, which has been relegated to Italy's Serie B.
Gadhafi's third son Al-Saadi is a one-time board member at Juventus as well as being a player, albeit briefly for Perugia, then in Serie A.
http://www.sharewatch.com/story.php?storynumber=269905
Libya has put up for sale its 45% stake in Tamoil’s European business, which includes oil refining and petrol stations in Italy, Germany, Switzerland, the Netherlands and Spain. A decision is expected by year-end.
"We have not made up our mind," Islam said. "We can do it next year. We are not in a hurry."
Saying he was expressing his personal opinion, Islam said Lafico should sell its interests in Italian soccer club Juventus, car-maker Fiat and bank Capitalia.
"Juventus is not a strategic investment. We will pull out as soon as possible," he said, adding that it was up to the government to make such a decision.
http://www.gulf-times.com/site/topi...=121419&version=1&template_id=48&parent_id=28
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