Although Kuwait has said it's content with its stake in BP (NYSE:BP), they're ready to increase their holdings in the company if the right market conditions present themselves. That could be a reference to the company's share price falling.
The sovereign wealth fund of the company, the Kuwait Investment Authority, said they haven't been approached by BP to increase their stake, a nod toward the goal of $30 billion the oil giant has to handle the increasing liabilities and claims they're faced with.
A report in a regional paper generated the comments from Kuwait, where it was said outgoing CEO Tony Hayward made a request to the fund to increase its stake from the current 1.75 percent in order to increase their defense against a potential unwanted takeover.
BP sold its Colombian assets today for $1.9 billion.
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