VOL. XXXII

NO. 23

13-MARCH-1989

Financial and Banking News

INVESTMENT ACTIVITIES

KIO to Stay in Spanish Banks after All

The Kuwait Investment Office (KIO) has changed its mind for the second timein as many weeks over the fate of its 48.2% stake in Cartera Central, a Spanishholding company which controls slightly less than 13% of Banco Central and 3% ofBanco Espanol de Credito (Banesto). The KIO stake, valued at some $400mn, hadbeen put up for sale in the wake of scandal and feuding between its...