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Posted On: 19 June 2008 08:43 am
Updated On: 12 November 2020 02:08 pm

Qatar fund eyes Barclays stake

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
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Qatar's sovereign wealth fund is considering backing a share issue by British bank Barclays, which could raise more than $7.81bn from investors, the Financial Times reported. The Qatar Investment Authority (QIA), which has said it bought under two percent of Credit Suisse this year, could help Barclays rebuild its capital reserves without a rights issue, the FT reported yesterday. “We're looking at it," a person close to the QIA was quoted by the FT as saying. QIA adviser John el-Khair declined to comment on the report when contacted by Reuters. The QIA manages assets worth about $60bn, according to a study by Standard Chartered Plc. Qatar is looking to spending between $10bn and $15bn over the next two years on bank stakes, a minister had said in February. Singapore-based Temasek Holdings may also be considering an investment in Barclays, the Financial Times said. The Pen