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UniCredit chief quits over Libya stake

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UniCredit chief quits over Libya stake

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UniCredit’s chief executive has reportedly submitted his resignation to the Italian bank.

Alessandro Profumo was under fire over Libya’s increasing weight in the company.

Libyan interests hold 7.6 per cent of UniCredit although Tripoli says it has no plans for a takeover.

UniCredit chairman, Dieter Rampl, is understood to be stepping in as the new chief executive.