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Barclays open to Gulf buyouts

London, November 10, 2008

British bank Barclays, which last month tapped Middle East investors for the bulk of a 7.3 billion pound ($11.5 billion) capital injection, said on Monday it would consider acquisitions in the Gulf Arab region.

'We are open to acquisitions,' Kevin Lecocq, chief investment officer at Barclays Wealth, a division of Barclays, told reporters.

'Strategically, this region is very important to us. We are very big believers in the region, and we are looking to grow here.'

Abu Dhabi and Qatar provided most of the fresh cash Barclays wanted last month, enabling it to avoid accepting UK government support and the conditions attached to that support.-Reuters




Tags: Barclays | acquistion |

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