Gulf investors to help buy Barclays

Abu Dhabi, Kuwait and Qatar will partly finance the US money manager BlackRock's acquisition of British bank Barclay's asset management unit.

The Sunday Telegraph newspaper, which cited people close to the matter, said the deal is worth $13 billion (Dh47.7bn) and the sale of Barclays Global Investors could be announced this week.

Gulf investors are financing in return for a stake of up to 12 per cent.