April 22, 2020 / 3:10 PM / in a month

Kuwait to review feasibility of Bahrain's Ahli United Bank takeover -KUNA

DUBAI, April 22 (Reuters) - Kuwait’s finance minister has asked its sovereign wealth fund to review the feasibility of the takeover of Bahrain’s Ahli United Bank by its subsidiary Kuwait Finance House, state news agency KUNA reported on Wednesday.

The decision came due to the fallout of the coronavirus outbreak and a global recession predicated by experts, KUNA said.

Kuwait Finance House said earlier this month that it was postponing its acquisition of Ahli United Bank until December due to the outbreak. (Reporting by Aziz El Yaakoubi Editing by Mark Heinrich)

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