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KIA Plans to Bid For RBS Stake
The Kuwait Investment Authority is planning to acquire a stake in Royal Bank of Scotland.
TheKuwait Investment Authority(KIA) is planning to acquire a stake inRoyal Bank of Scotland(RBS),The Telegraphreports. The Kuwaiti sovereign wealth fund plans to buy the stake when the U.K. government begins to sell down its 83% stake in the lender.
Middle East wealth funds, including Abu Dhabi and Saudi Arabian funds are also likely to invest in RBS. KIA, which manages funds worth nearly $300 billion, was also a major investor inCitigroupbefore selling its stake in 2009.
Click here for the story fromThe Telegraph.