British oil company BP is seeking support from sovereign wealth funds in the Middle East and Asia to defend itself from any takeover bids while it deals with its massive U.S. oil spill, a senior UAE source said on Tuesday.BP executives have held talks with a number of sovereign wealth funds (SWFs) including Abu Dhabi, Kuwait, Qatar and Singapore, the source told Reuters under condition of anonymity.
The Government of Singapore Investment Corp (GIC), one of two sovereign wealth funds in the nation, already owns around 0.7 percent stake in BP valued at $122 million, according to Thomson Reuters data. Full Story
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