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Thursday, 6 April 2017

Saudi Aramco May Revive London's, Er, Glorious Past - Bloomberg Gadfly

Saudi Aramco May Revive London's, Er, Glorious Past - Bloomberg Gadfly:

"In her quest to help Britain "embrace the world," U.K. Prime Minister Theresa May has been glad-handing in Saudi Arabia this week. One thing she likely hopes to do is lure Saudi Arabian Oil Co., or Saudi Aramco, to London for its hotly anticipated IPO. The presence of the London Stock Exchange's CEO in her delegation at least suggests the thought has crossed her mind.With valuation estimates ranging upward of $400 billion, floating even a sliver of Aramco could smash records. What better way to demonstrate to the world that Britannia still rules than landing the biggest-ever IPO?Having Aramco list in London would also bolster the U.K. government's line that Britain will emerge from the EU as some sort of global business and trading hub. Indeed, on that score, it would enhance an existing peculiarity of London -- if "enhance" is the right word."



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