Barclays Shares For Sale By QIA
Posted on 12/07/2023
Qatar Investment Authority would like to earn £510 million by selling 45% of its Barclays shares. It currently owns 5% of the bank. QIA is looking to sell 362 million shares in all. Qatar has been winding down its position for years, owning 1 billion shares at one point. Barclays, meanwhile, is looking to save £1 billion from trimming costs. Layoffs will be an essential component of that plan. Barclays will also cease doing business with unprofitable entities, which could include some sovereign wealth funds. Barclays employs 44,000 in the UK alone, and another 43,000 throughout the world.