Kuwait has told Britain that it does...
Kuwait has told Britain that it does not plan to use its big stake in British Petroleum Co. to control the oil giant, the British Treasury said. A short Treasury statement said: “The Kuwaiti authorities have assured us that they have no ambitions to control British Petroleum, nor any interest in any management role, and that the Kuwait Investment Office holding in the company is intended as a long-term investment.” Since the stock market crash in October, the Kuwait Investment Office, an arm of the Kuwait government, has quietly built its holding in BP to 18.35%.
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