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Kuwait Sovereign Wealth Fund Denies Report on BP Stake Approach

Aug. 2 (Bloomberg) -- Kuwait Investment Authority, the country’s sovereign wealth fund, did not receive any offer from BP Plc to increase its stake in the company.

The wealth fund was commenting in an e-mailed statement on a report in Al-Anba newspaper that BP’s outgoing Chief Executive Officer Tony Hayward asked Kuwait Investment Authority to raise its stake to 3 percent to protect the company against any takeover attempts.

Link to Company News:{2738291Z KK <Equity> CN <GO>} Link to Company News:{BP/ LN <Equity> CN <GO>}

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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