June 5 (Bloomberg) -- Royal Bank of Scotland Group Plc's Chief Executive Officer Stephen Hester is looking to attract sovereign wealth funds in the Middle East ahead of the government's sale of the U.K. bank, the Sunday Times reported.
Hester met with investment funds in Abu Dhabi, Dubai, Qatar and Kuwait during a tour of the Gulf last week, according to the newspaper. The bank's CEO wants the government to sell a part of its shareholding worth between 5 billion pounds ($8.2 billion) and 10 billion pounds early next year, the newspaper said, citing people close to the lender it didn't identify.
Hester said during his visit to Abu Dhabi that he would be disappointed if the sale of the government stake didn't start in 2012, the Sunday Times quoted the CEO as saying.
Source: www.sfgate.com
Hester met with investment funds in Abu Dhabi, Dubai, Qatar and Kuwait during a tour of the Gulf last week, according to the newspaper. The bank's CEO wants the government to sell a part of its shareholding worth between 5 billion pounds ($8.2 billion) and 10 billion pounds early next year, the newspaper said, citing people close to the lender it didn't identify.
Hester said during his visit to Abu Dhabi that he would be disappointed if the sale of the government stake didn't start in 2012, the Sunday Times quoted the CEO as saying.
Source: www.sfgate.com
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