Kuwait Sovereign Wealth Fund Purchases Share of Citigroup and Merrill Lynch
More Arab wealth is headed to the United States. This time it’s coming from a sovereign wealth fund in Kuwait.
The Associated Press:
Kuwait’s sovereign wealth fund has revealed that its January investments in Citigroup Inc. and Merrill Lynch & Co. totaled $5 billion.
In a statement on its Web site Tuesday, the Kuwait Investment Authority said it agreed to invest $3 billion in Citigroup’s $12.5 billion offering and $2 billion in Merrill Lynch’s $6.6 billion offering.
More foreign government ownership of U.S. companies. Let me clarify: more questionable foreign government ownership.
I have no problem with companies or sovereign wealth funds in certain countries owning various U.S. assets. However, countries like China, Russia, The United Arab Emirates, Saudi Arabia, etc. owning key U.S. infrastructure and financial assets.
At this rate, we’ll be owned by China and the Arab Gulf States within ten years.
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