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| Qatar sale hits Barclays shares | Qatar sale hits Barclays shares |
| (about 4 hours later) | |
| Shares in Barclays fell by almost 5% after Qatar's sovereign wealth fund said it would sell 379 million shares in the UK bank worth more than £1.3bn. | |
| The Middle East investors bought into Barclays last year when it decided to raise capital privately rather than take money from the UK government. | The Middle East investors bought into Barclays last year when it decided to raise capital privately rather than take money from the UK government. |
| Now that Barclays shares have rallied, Qatar is looking to cash in its shares. | Now that Barclays shares have rallied, Qatar is looking to cash in its shares. |
| Reports suggest that it will now turn its attention to Sainsbury's, which saw its shares rise by 5.5% on the news. | |
| The supermarket, the UK's third largest grocer, declined to comment on speculation that the Qatar Investment Authority was planning to increase its current 26% stake, with a view to making another bid. | |
| In June, Abu Dhabi firm International Petroleum Investment Company, which had also participated in last year's fund raising, sold more than a billion Barclays shares. | In June, Abu Dhabi firm International Petroleum Investment Company, which had also participated in last year's fund raising, sold more than a billion Barclays shares. |
| In 2008, Barclays raised £7bn from Middle East investors to boost its finances. | In 2008, Barclays raised £7bn from Middle East investors to boost its finances. |