Qatar wealth fund eyes Barclays stake
London, June 18, 2008
Qatar's sovereign wealth fund is considering backing a share issue by British bank Barclays, which could raise more than 4 billion pounds ($7.81 billion) from investors, the Financial Times reported.
The Qatar Investment Authority (QIA), which has said it bought under 2 percent of Credit Suisse this year, could help Barclays rebuild its capital reserves without a rights issue, the FT reported on Wednesday.
"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 $60 billion, according to a study by Standard Chartered.
Qatar is looking to spending between $10 billion and $15 billion over the next two years on bank stakes, Prime Minister Sheikh Hamad bin Jassim Al-Thani told Reuters in February.
Singapore-based Temasek Holdings may also be considering an investment in Barclays, the Financial Times said. - Reuters