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Kuwait bourse aims to delay government sale plan

Hamed al-Saif, director and head of the Kuwait Stock Exchange has said the bourse is seeking to slow government plans to sell the country's bourse, on concern it remains too weak three years after the credit crisis triggered a $5bn bailout of financial companies, Bloomberg has reported. The government must sell 50% of the exchange by the end of this year under the terms of a law approved in February 2010. The remainder is to be sold to Kuwaitis in an initial public offering, al-Saif said. "I'm against the way it is to be privatized," he told the news service.