Sovereign wealth fund Kuwait Investment Authority (KIA) has told French authorities it wants to sell its stake in nuclear group Areva, according to La Lettre de l'Expansion newsletter. KIA is Areva's second-biggest shareholder with a 4.82% stake. The newsletter said that KIA had complained that its investment in Areva, which is c.87% owned by the French government, was made based on incorrect company accounts. KIA paid EUR600mn (USD676mn) for the stake in 2010, but since then Areva shares have plunged by about 90% as the firm's equity has been wiped out by years of losses. Areva will be rescued by a EUR5bn state-funded capital increase and its nuclear reactor unit will be taken over by state-owned utility EDF later this year or early next year. (Reuters)