Libya Mulls Investing in German Companies

Libya is planning to invest some of the billions of dollars it earns each year from oil and gas in the acquisition of stakes in German industrial companies, the son of Libyan leader Moammar Gadhafi, Seif al-Islam Gadhafi, said in a newspaper interview Tuesday. Seif al-Islam Gadhafi, who holds no official position but is seen as a representative of his father, told the daily Frankfurter Allgemeine Zeitung that Tripoli was considering "buying stakes and shares in German industrial companies." He declined to name any names so as not to breach the confidentiality of the talks. Gadhafi was speaking on the sidelines of the Hanover trade fair where he was heading a Libyan delegation. Tripoli was considering investing large parts of its foreign currency reserves in the international financial markets, "particularly in the United States," Gadhafi continued. Such a move is now possible following the lifting of international sanctions against Libya.