Qatar cashes out Barclays investment

Qatar Holdings has sold its remainng warrants in Barclays bank for an estimated £679 million ($1.1 billion), taking its total gain on the warrants it acquired four years ago to an estimated £1.7 billion. Qatar's sovereign wealth fund acquired the warrants, which are convertible into the British bank's stock, during the 2008 global financial crisis when Barclays raised capital from sovereign wealth funds rather than take a government bailout. Since then Barclays shares have risen 36%. The fund remains the bank's largest shareholder with a 6.7% stake. Barclays shares fell 4% in morning London trade on news of the disposal. Deutsche Bank and Goldman Sachs were the buyers.