Kuwait govt sells BP stake

The government of Kuwait today cashed in on the rapid rise in the value of BP this year by selling £1.2bn (€1.78bn) of the oil giant’s shares.

Kuwait govt sells BP stake
Fri, 09 Dec, 2005 - 15:39

The government of Kuwait today cashed in on the rapid rise in the value of BP this year by selling £1.2bn (€1.78bn) of the oil giant’s shares.

Kuwait justified the disposal of 185 million shares or 0.89% of current BP stock on the need to “rebalance its international investment portfolio”.

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