Kuwait fund: No plans to sell Citi, Merrill stakes

  • Business Premium
  • Monday, 07 Sep 2009

DUBAI: Kuwait's sovereign wealth fund said Sunday that it has no plans to sell stakes in Citigroup Inc. and Merrill Lynch & Co. because it has faith in the potential of the U.S. banks.

"The authority has no intention of selling its holdings in Merrill Lynch or Citigroup in the near term, since the authority's investment policies are based on a long-term vision," the Kuwait Investment Authority said in a statement published in local newspapers al-Rai and al-Qabas.

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