Life is about to get a whole lot more interesting on the board of BAA, owner of London’s Heathrow airport.
Qatar Holding, the direct investment arm of Qatar Investment Authority, the Gulf sovereign wealth fund, is planning to buy a 20 per cent stake in BAA for £900m, making it the third largest shareholder, with two seats on the airport operator’s board.
Qatar Holding has confounded expectations that it is a passive investor – as the second largest shareholder in Xstrata, it has brought the miner’s proposed merger with Glencore to the point of collapse by demanding better deal terms in June.
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