The Libyan Investment Authority might reach 2% stake of Enel SpA acquiring shares through the utility's EUR8 billion rights issue announced on Friday, Italian daily La Repubblica reports Monday without citing its sources.
According to the report, the Libyan sovereign fund is ready to invest EUR400 million in Enel.
Libyan ambassador to Italy, Hafed Gaddur, told La Repubblica that the transaction is purely financial and wouldn't allow Enel to tap into Libyan gas and oilfields.