Contact Us on the WhatsApp icon to send us a message or email

McIntyre Report Political Talk Show

The Vladimir Putin Interview

Recent News

The next 3 minutes will transform your life forever.

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Australian National Review - News with a Difference!

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset. and help us expose the Covid Fraudsters

Qatar dumping shares in key UK bank – Bloomberg — RT Business News

Facebook
Twitter
LinkedIn
WhatsApp
Email

Barclays’ second biggest shareholder reportedly plans to get rid of half of its stake in major lender

Qatar Holding, owned by the Qatar Investment Authority (QIA), is looking to sell some £510 million ($644 million) worth of its shares in Barclays, one of the UK’s oldest banks, according to terms of the offering, seen by Bloomberg.

The transaction is expected to cut QIA’s ownership of Barclays in half, reducing it from a 5% stake to about 2.4%.

The Gulf State has been an anchor investor in Barclays since 2008, when it helped the bank, the UK’s second largest lender, to avoid a government bailout with an injection of £4 billion (over $5 billion).

The QIA is currently ranked Barclays’ second-biggest shareholder, according to data tracked by the news agency.

The sale comes as the lender is striving to revive its share price, down over 80% since the 2008 financial crisis. Earlier this month, major media outlets reported that Barclays was working on plans to save around £1 billion (over $1.25 billion) by dropping thousands of clients at its investment division and cutting some 2,000 jobs.

The bank is also selling its consumer finance unit in Germany and considering selling a stake in its domestic merchant services business.

Barclays’ shares are down over 12% this year, and are trading close to their lowest levels since the coronavirus pandemic. Its valuation is currently ranked among the cheapest among global banking majors.

For more stories on economy & finance visit RT’s business section

You can share this story on social media:

Source link

Original Source

Related News

Let’s not lose touch…Your Government and Big Tech are actively trying to censor the information reported by The ANR to serve their own needs. Subscribe now to make sure you receive the latest uncensored news in your inbox…