Libyan Interest in Western Investment
According to the Italian Foreign Minister, Libya along with the UAE has expressed interest in Telecom Italia. The foreign minister told Reuters, “For now, we’ve had explorations, contacts which have not translated into a concrete interest. There is an interest in the infrastructure, tourism and transport sectors. Libya is interested.” During the recent financial crisis, Libya has been able to supply many western companies with necessary capital. Because of the close relations with Italy, Libya is very interested in investing in Italian companies, and according to the Libyan ambassador to Italy, Libya is interested in five or six Italian companies. However, Libya is only interested in companies without debt problems, which probably means the it is no longer interested in Telecom Italia, which has a significant amount of debt. Update.
David Crowley
