[Atimes] Hardly 10 months after honoring the visiting US president, the Saudis are open to a Russian-Chinese consortium investing in the upcoming Aramco IPOThe big news is the Russian offer to the Saudi authorities to invest directly in the upcoming Aramco initial public offering – and the Saudis acknowledging the offer. Even bigger news, surely, is that Moscow is putting together a Russian-Chinese consortium of joint investment funds plus several major Russian banks to be part of the Aramco IPO.
Chinese state oil companies were interested in becoming cornerstone investors in the IPO, but the participation of a Russia-China joint investment fund takes matters to an entirely different realm. Clearly, the Chinese side is willing to hand over tens of billions of dollars.