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Gulf eyes US banks
- Wednesday, November 28 - 2007 at 06:37
The Abu Dhabi Investment Authority's acquisition of a 4.9% stake in Citigroup could spur further acquisitions by Gulf-based investors in US banking assets, reported Gulf News. Many US banks' were hit by the subprime crisis, making them attractive investment targets for cash-rich Gulf investors. Analysts said possible future targets could be Merrill Lynch or Bear Sterns.
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Jeff Florian, Senior ReporterWednesday, November 28 - 2007 at 06:37 UAE local time (GMT+4)
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