Kuwait Invest Authority: Received No Offer From BP To Up Stake

2nd Aug 2010 11:16

DUBAI (Zawya Dow Jones)--The Kuwait Investment Authority, or KIA, the country's sovereign wealth fund, said Monday it has received no offer from BP PLC (BP) to raise its stake in the troubled U.K. oil major. "The Kuwait Investment Authority did not receive an offer from BP to increase its stake in the company. Furthermore, KIA made no statement to any local newspaper regarding this issue," Dalal Al-Refai, of the information and public relations office at KIA, said in an emailed statement to Zawya Dow Jones. Earlier Monday, Kuwait daily Al Anba, citing a senior KIA official, said KIA doesn't intend to exit its stake in BP PLC and is considering acquiring an additional interest in the company. -By Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1692; [email protected] Copyright (c) 2010 Dow Jones & Company, Inc. (END) Dow Jones Newswires August 02, 2010 06:16 ET (10:16 GMT)