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FINANCIAL NEWS
Kuwait Airways invites bids on 35% stake
01 Aug 2011
(MENAFN) Kuwait Airways announced looking for bidders interested in acquiring thirty five percent of the struggling carrier, reported AP.
The invitation for bidders comes as a part of the carrier’s long-awaited privatization plan.
Kuwaiti airlines are banned from submitting proposals, while all other firms listed in Stock Exchange and some international companies are welcomed to bid.
A privatization committee for Kuwait Airways added that the Kuwait Investment Authority government wealth fund would keep a fifth of the airline’s ownership.
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