VOL. XXXI

NO. 50

19-SEPTEMBER-1988

Financial and Banking News

INVESTMENT ACTIVITIES

KIO Holding Company Wants Representation at Spanish Bank

The holding company for the Kuwait Investment Office's Spanish bankinginterests, Cartera Central, last week demanded board representation at BancoEspanol de Credito (Banesto), despite owning only 2% of the bank's equity. Threemonths ago Cartera paid some $57mn to buy its stake in Banesto (MEES, 13 June),and announced its intention to acquire more. A spokesman...