The Kuwait Investment Office has agreed not...
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The Kuwait Investment Office has agreed not to increase its 22% stake in British Petroleum Co. pending a British government inquiry into its holding. The investment arm of the Kuwait government that invests the Persian Gulf state’s petro dollars worldwide also said it would not seek any seats on BP’s board until Britain’s Monopolies and Mergers Commission completed its investigation. In March, the KIO said it would not raise its holding in BP, the world’s third-largest oil company, above 22.5% and would not seek a place on the BP board.
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