Financial and Banking News
KIO Stake in BP Exceeds 15%
The Kuwait Investment Office (KIO) has continued buying partly-paid shares inBritish Petroleum (BP), and by 16 December its stake in the company reached15.02%, currently worth some 632mn ($1.16bn). The KIO first disclosed a 10.06%share in BP last month (MEES, 23 November). Its continuing purchases of BPshares have on some occasions accounted for one quarter of total stockturnover on...