UniCredit is closely following events in Libya and hopes for a quick clarification of the situation, he told Corriere della Sera. The Central Bank of Libya holds just under 5 percent of UniCredit and the Libyan Investment Authority has 2.6 percent.
Asked what would happen if Tripoli wanted to pull out of UniCredit tomorrow, Ghizzoni said: “I believe that they would not have trouble doing it through us or by themselves. The signs of interest are there already.”
UniCredit, Italy's biggest bank by assets, will also keep its stake in investment bank Mediobanca SpA “at the same level,” he told Corriere della Sera.
UniCredit has 8.7 percent of Mediobanca and Mediobanca's shareholder pact is up for renewal in the coming months.
Asked about a capital increase, Ghizzoni said that UniCredit was waiting for clarification about regulators' norms on systemically important financial institutions.
He said he was unconcerned about capital levels, adding: “Today we all agree that capital should be higher than in the past. But I don't agree about raising capital to such a level that there will be significant problems with profitability.”
UniCredit has stayed out of a latest round of capital-raising by Italian banks. UniCredit shares have been hit by fears of contagion from the Greek debt crisis spreading to Italy.
He said of financial markets that the “situation is extremely volatile and delicate.”
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