Financial and Banking News
KIO Reveals Stake in Royal Bank of Scotland
The Kuwait Investment Office (KIO) last week revealed a major stake in the Royal Bank of Scotland amounting to 24,081,250 shares, or 8.49% of the bank's equity. The stake was built up from KIO's original holding as the result of the purchase of some 14.06mn shares for an estimated price of £40mn from Lloyds Bank. The KIO also holds 9.16% of the Bank of Scotland.