UK companies hope assets are unfrozen soon

A string of top British companies whose shares are owned by Libya's sovereign wealth fund were today looking forward to the assets being unfrozen following the death of Colonel Gaddafi.

Libyan Investment Authority has a 3.27% shareholding in Financial Times owner Pearson as well as stakes in Royal Bank of Scotland and the Italian bank Unicredit.

The UK Treasury, which ordered the freezing of the LIA's assets in February after a United Nations ruling, today offered no immediate guidance on when this might change.

Pearson, which is headed by Dame Marjorie Scardino, said: "The Pearson shares held by the LIA remain frozen as do dividends accrued since the freezing was announced. Pearson hopes these assets can be made available for the benefit of the Libyan people as soon as possible."