Register for our free newsletter

Latest News

Qatar PM open to investing in UK banks Lloyds, RBS

Prime minister says discussed some investments in UK .

February 23, 2011 1:59 by

Qatar is open to buying stakes in part state-owned UK lenders RBS and Lloyds Banking Group and has discussed investing in Britain, Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani said on Wednesday.

The prime minister made the remarks during a press conference with British Prime Minister David Cameron.

Asked whether the Gulf Arab state would invest in RBS or Lloyds specifically, he replied: “We are very open to any investment in the UK and we have discussed some.”

Qatar has stakes in companies including retailer J Sainsbury , Barclays  bank and German automaker Porsche  through its sovereign wealth fund Qatar Investment Authority (QIA).

Qatar’s prime minister is also the chief executive of QIA.

RBS shares were up 0.7 percent and Lloyds shares were up 1.5 percent on the London Stock Exchange.

Earlier in the month, Qatar Holding, a unit of QIA, invested in contingent convertible bonds issued by Credit Suisse .

(Reporting by Regan E Doherty, Writing by Dineh Nair, Editing by Will Waterman)

Tags: , , , ,

Leave a Comment