Italy's economic and financial stability committee met Tuesday, a first step towards possible government action on Libyan assets in the country, a person familiar with the situation said.

Attending were officials from Italy's treasury ministry and central bank as well as key financial regulators.

Foreign Minister Franco Frattini had appealed for the meeting, needed to discuss technical details ahead of a possible freezing of Libyan assets in the country. Italy's government may meet later in the week to authorize such a freeze.

Libya has more than EUR3 billion in assets in Italy, including some 7.5% of Unicredit SpA (UCG.MI) held by LIbya's central bank and a government-run investment vehicle.

Other Libyan stakes in Italian companies include a 2% stake in Finmeccanica SpA (FNC.MI) and a 7.5% stake in Juventus Football Club SpA (JVC.MI).

-By Christopher Emsden, Dow Jones Newswires; +39-06-6976-6921; chris.emsden@dowjones.com .-0
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