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Kuwait to retain investments in Merrill and Citi
Kuwait has no plans to…
September 6, 2009 12:50 by kippreport
Kuwait has no plans to sell its investments in the US banks Merrill Lynch and Citigroup anytime soon, the Kuwaiti Investment Authority (KIA) said in a report. “The authority relies in its investment policies on a long-term look,” KIA said in a statement, reports Reuters.
The sovereign wealth fund has come under criticism from some politicians for investing $5 billion in Citigroup and Merrill Lynch. According to the report, KIA can exit these investments at anytime.