Financial and Banking News
KID Stake In BP Exceeds 18%
The Kuwait Investment Office (KIO) has raised its holding of shares inBritish Petroleum (BP) to 1.09bn shares, equivalent to 18.34% of the company'sequity and representing more than half of the 2.13bn BP shares issued to thepublic in October 1987. The KIO purchased 38mn shares on 30 December (whichlifted its stake to 18.03%) and a further 18.5mn shares on 31 December. Afterthe Bank of...