Saudi Arabia reportedly calls off Aramco IPO and disbands advisers

If it involves Russia, China, Malaysia, Italy, Iran, Saudi Arabia, Qatar, Israel or Venezuela – keep your eye on it…

‘Saudi Arabia cancels plans to list shares of its state-owned oil giant Aramco and dismissed advisers, Reuters reports.

The kingdom is disputing the report, and sources familiar with the process tell CNBC it is inaccurate to say the initial public offering is off the table.

The initial public offering would be the largest ever and underpins an ambitious plan to overhaul the Saudi economy.’

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