Qatar builds stake in Credit Suisse |
| Times Online - Feb 18, 2008 |
Qatar has begun spending some of the $15 billion (£7.5 billion) earmarked for investments in European and US banks, by building a stake in Credit Suisse.
Sheikh Hamad bin Jasim bin Jaber al-Thani, the state's prime minister and chief executive of the Qatar Investment Authority (QIA), has told Bloomberg: “We have a relation with Credit Suisse and we bought some of the stock from the market.”
Sheikh Hamad did not reveal the size of Qatar’s stake in Credit Suisse, as the deal was still in process.
Credit Suisse shares rose 2.45 per cent today to SwFr56.35.
The Gulf state said at the World Economic Forum in Davos this year that it wants to invest up to $15 billion in financial stocks hit by sub-prime writedowns.
Read Full Article from Times Online
- Posted: 2008-02-18 09:29:14
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