Monday 20 June 2011

Qatar on pole position as it plans swoop for stake in second major UK bank

One of the world's most acquisitive sovereign wealth funds is in early negotiations to pick up a cornerstone stake in a second leading British bank.

Qatar Holdings, which already has a 7 per cent holding in Barclays, is believed to be seriously considering taking a stake in the UK arm of Santander, the Spanish banking major, when it floats before the end of 2011.

The wealthy Gulf state's investment vehicle splashed out $2.72 billion (£1.7bn) last year for a convertible stake in the Brazilian business of Santander, Banco Santander Brasil.

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