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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