By Daliah Merzaban and John Irish
Gulf state's sovereign wealth fund considering backing $7.8bn share issue by British bank, source says.
Qatar's sovereign wealth fund is considering backing a share issue by British bank Barclays, which could raise more than 4 billion pounds ($7.81 billion) from investors, the UK's Financial Times (FT) reported on Wednesday.
The Qatar Investment Authority (QIA), which has said it bought under 2 percent of Credit Suisse this year, could help Barclays rebuild its capital reserves without a rights issue, the FT said.
"We're looking at it," a person close to the QIA was quoted by the FT as saying.
QIA adviser John El-Khair declined to comment on the report when contacted by newswire Reuters. The QIA manages assets worth about $60 billion, according to a study by Standard Chartered.
Qatar is looking to spending between $10 billion and $15 billion over the next two years on bank stakes, Prime Minister Sheikh Hamad bin Jassim Al-Thani told Reuters in February.
Singapore-based Temasek Holdings may also be considering an investment in Barclays, the FT said. (Reuters)