VOL. XXXI

NO. 7

23-NOVEMBER-1987

KUWAIT

KIO Declares Acquisition of 10% Stake in BP

The Kuwait Investment Office (KIO) last week declared that it had purchased a10.06% stake in the recently-privatized British Petroleum (BP). KIO's interestin BP has been the subject of persistent market rumour since the issue ofpartly-paid BP stock last month, and the price of the new partly-paid sharesimproved dramatically on 17-18 November in response to heavy anonymous buying,which later was assumed to have been...