INTERVIEW-Templeton's Mobius eyes Libyan market, sees growth

Mon Nov 23, 2009 2:00pm GMT
 

(Corrects typographical error in INTERVIEW tag in headline)

* Sees tourism, infrastructure and telecoms as attractive

* Says interested in private equity investment in Libya

By Shaimaa Fayed

TRIPOLI, Nov 23 (Reuters) - Templeton Asset Management fund manager Mark Mobius said he was eyeing private equity and other investments in Libya and said the stock market had enormous potential for growth.

Mobius, a prominent emerging market investor, told Reuters at the launch of a new Egyptian brokerage office in Tripoli he saw potential for tourism, infrastructure and telecoms investments.

Libya, holder of Africa's largest oil reserves, has attracted a wave of interest from Arab and international companies, operating mainly in energy and construction, since most international sanctions were lifted in 2004.

"This market is very exciting now because the government is embarking on a privatisation programme to list many of the state enterprises. Although the market is small now, the potential for growth is enormous," Mobius said, speaking late on Sunday.   Continued...

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