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Plans for World's Biggest IPO Attract Attention of U.K. Cabinet

  • Saudi Arabian prince to visit before oil giant Aramco’s sale
  • May’s ministers discussed Aramco listing, spokesman says

Prime Minister Theresa May’s cabinet talked about Saudi Arabian oil giant Aramco’s pending initial public offering, which could be the largest in history, as part of preparations for a trip to London by Crown Prince Mohammed bin Salman.

“The visit will usher in a new era of bilateral relations” focused on delivering “wide-ranging benefits,” said James Slack, a spokesman for May. The potential listing for Saudi Arabian Oil Co., the world’s biggest oil exporter, was among the topics that were discussed, he said, without giving further details. Starting March 7, the prince is scheduled to make his first trip to the U.K. since becoming heir to the monarchy.