Italy’s Mediobanca mulls Tunisia unit – source

Reuters reports, “Italy’s Mediobanca SpA is planning to open a merchant bank in Tunisia, as it looks to broaden its reach to the Arab world, a source close to the situation said on Thursday. The plan, which would involve Mediobanca owning a 30 percent stake in the new bank, was discussed at a board meeting on Tuesday, the source said, confirming a report in Italy’s Il Sole 24 Ore.

“It does not require significant capital investments,” the source told Reuters, adding the plan was in line with the Italian bank’s plans to expand internationally.

Mediobanca, which has no subsidiaries in the Arab region, would team up with local partners, the source said.

The Libyan Arab Foreign Investment Company (Lafico) and BIA Banque, which is co-owned by Banque Exterieure d’Algerie and the Libyan Foreign Bank, would take around 5 to 10 percent in the bank, the source said.”

Read more: Reuters



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