Britain woos Saudi Aramco IPO with $2bn loan guarantee


(Worthy News) – Britain on Thursday confirmed it has offered Saudi Aramco a $2 billion (1.71 billion euros) loan guarantee as the oil giant considers whether to launch possibly the world’s largest ever stock market listing in London.

The offer, which will help the energy giant buy British exports, is widely seen as part of lobbying efforts to secure an initial public offering (IPO) for the UK’s financial hub, although the British government has denied this.

“This (guarantee) has nothing to do with the potential float, it’s about increasing UK exports,” a Treasury spokesman told the Agence France-Presse news agency. [ Source: Deutche Welle (Read More…) ]

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