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Bank of Italy moves on UBAE over Libya asset freeze

ROME, March 14 (Reuters) - The Bank of Italy said on Monday it had placed Banca UBAE in Rome under special administration following the European Council’s decision last week to freeze Libyan banking assets.

It said the principal shareholders and financers of Banca UBAE were the Libyan Central Bank and the Libyan Foreign Bank.

It said the measures would ensure that the bank operated in conformity with international measures but it would continue its normal activities. (Writing by James Mackenzie)

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