Mobius expresses governance concerns over Saudi control of Aramco | Reuters:
Mark Mobius has “governance” concerns over investing in shares or bonds that could be issued by Saudi Aramco in future because of Riyadh’s control over the oil giant, the emerging markets investor said on Monday.
“At the end of the day decisions about the company will not necessarily be for the benefit of the larger shareholders but for the government,” Mobius told Reuters on the sidelines of an investment conference in Dubai.
Saudi Aramco is expected to issue its first international bond over the next few months with the proceeds likely to be linked to the acquisition of a controlling stake in petrochemical maker SABIC.
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