Qatar cuts stake in Barclays
Qatar's sovereign wealth fund is slashing its stake in Barclays, the UK lender whose shares are down more than 12 per cent this year.
Qatar Holding, a subsidiary of the Qatar Investment Authority, was Barclays' second-biggest shareholder, according to Bloomberg data.
The fund launched the sale of almost 362mn shares, worth about £510mn, on Monday afternoon.
The bank's chief executive, CS Venkatakrishnan, is under pressure to win round investors to a strategic overhaul he is planning to reveal next spring.
The QIA helped bail out Barclays during the global financial crisis 15 years ago.
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