Abu Dhabi is reluctant to invest in BP, a report said, only days after the British company's chief was thought to have sought investment from sovereign wealth funds on a visit to the Gulf state. Citing sources, the Middle East Economic Survey said it "understands that Abu Dhabi has signalled a reluctance to buy into BP," in its latest edition to be published on Monday.
"Sources close to Abu Dhabi investment funds said that they are already in court over a Citigroup investment and that the move would be too politically charged and there are too many unknowns," the MEES newsletter said.
Abu Dhabi Investment Authority became one of Citigroup's biggest investors in 2007 with a 7.5-billion-dollar cash injection, but The National newspaper reported in December that ADIA filed a suit accusing the US bank of fraud. ADIA is considered the world's largest sovereign wealth fund with assets of more than 600 billion dollars.
Comments
Comments are closed.