VOL. XXXII

NO. 22

6-MARCH-1989

Financial and Banking News

INVESTMENT ACTIVITIES

KIO's Spanish Bank Holdings in Chaos

The Kuwait Investment Office's (KIO) holdings in the Spanish banking sectorwere the subject of intense speculation last week as the two banks in which itindirectly owns shares called off a proposed merger and began buying their ownstock in order to maintain prices. The KIO's stake is held through a holdingcompany, Cartera Central, in which it owns 48.2%, currently valued at some...