VOL. XXXI

NO. 24

21-MARCH-1988

Financial and Banking News

INVESTMENT ACTIVITIES

KIO Stake in BP Exceeds 22%

The Kuwait Investment Office (KIO) has lifted its stake in British PetroleumPLC from 19.52% to just over 22% in two steps. After heavy buying was detectedon 9 March, the KIO revealed on 11 March that its stake stood at 21.28%, and onthe same day its Chief Investment Manager, Mr. Trevor Ball, also made anannouncement to the effect that the KIO did not intend to increase its stakebeyond 22.5%....