Shockwaves from Libya hit Italian business

[Joanne98]

Source: AP

MILAN — Shockwaves from the unrest in Libya on Monday hit its former colonial overlord Italy -- a top foreign investor in Libya and a country in which the North African state has also invested billions.

Libya's sovereign wealth fund and veteran ruler Moamer Kadhafi's family own stakes in Italy's biggest bank UniCredit, defence and industry giant Finmeccanica, as well as in the first-division Juventus football club.

Shares in UniCredit plunged 5.75 percent by close of trading in Milan.

Libya is Unicredit's top shareholder with a 7.5-percent stake and Libyan central bank governor Farhat Omar Bengdara is also Unicredit's vice-president.



Read more: http://www.google.com/hostednews/afp/article/ALeqM5hxoA_X1dH6VxrIScQAh2lzSKLR-A?docId=CNG.4e364d1c66c0bd7919fb114dc47b08c3.951

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It's a SHOCKWAVE!

How's that feel billionaire bastards?

[Canuckistanian]

1. It's making waves in our neighborhood

Finmeccanica owns the formerly American company DRS - and there's a plant in one of the towns near Ottawa.

[Jed28]

2. Where is Libya's oil money going?

Libya's vast oil reserves have enabled it to invest more than $70bn (£43bn) around the world – making it a major shareholder in companies such as the Financial Times, Fiat and Juventus football club.

http://www.guardian.co.uk/world/2011/feb/21/libya-oil-money-major-world-shareholder

And...Libya's unemployment rate is around 30%.

It seems billionaires are the same everywhere.

[Codeine]

3. Good. Fuck Juventus.

:evilgrin:

[mrarundale]

4. oil

so maybe that is what this is all about. The staged Tunisian /Egyptian Fakebook-lead protests precipitating the military assisted "uprisings" in Libya.

[2banon]

5. hmm..

please clarify..

are you suggesting that the tunisian/egyptian uprisings were something of a ruse, created to achieve a regime change outcome in Lybia, a sort of plan B alternative as opposed to western method of shock and awe invasions (such as in Iraq and Afghanistan/Pakistan) FB was a tool of the intelligencia used to fuel the subsequent uprisings and maybe even (anonymous by extension)...? I wouldn't be in the least surprised.. however I'm not quite there yet, I'm still waiting see how things unfold ultimately.. But I'll be watching who gets rich, and who gets robbed..

if this is sort of what you meant..(?)

[mainer]

6. yes, please clarify.

I'm curious.