Monday 9 April 2012

Qatar's sovereign fund fund takes 5pc slice of Xstrata - Telegraph

The move, which has angered some of Xstrata's shareholders, sees Qatar overtake Standard Life and Legal & General to become the third biggest investor after Glencore (33.6pc) and Blackrock (5.43pc).
Aside from Blackrock, most other top 10 investors have been critical of the merger deal and the terms that Xstrata has agreed. However, Qatar's intervention, via its QIA vehicle, is expected to deliver crucial support to Glencore ahead of a planned shareholder vote in the summer.
"It makes us feel very uneasy to see the appearance of this sovereign wealth fund on the shareholder register. It almost certainly means votes are in the bag for Ivan [Glasenberg]," said Schroders fund manager, Richard Buxton.

No comments:

Post a Comment