Qatar’s sovereign wealth fund is slashing its stake in Barclays, the UK bank that is coming under pressure from investors to overhaul its strategy and improve its performance.
Qatar Holding, a subsidiary of the Qatar Investment Authority that helped bail out Barclays during the global financial crisis, launched the sale on Monday of almost 362mn shares, worth about ￡510mn.
The QIA is Barclays’ second-biggest shareholder, according to Bloomberg data, and the stock sale is expected to reduce its stake from 5.3 per cent to 2.9 per cent.
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