Financial Times: Qatar owns one billion dollars in “Bank of America”

Financial Times: Qatar owns one billion dollars in “Bank of America”

Created on Friday, 01 November / 2 November 2013 14:17

Financial Times-Qatar owns one billion dollars in Bank of AmericaLondon, Doha / Agencies

The newspaper “Financial Times” that Qatar’s sovereign wealth fund, “Pat has a $ billion stake in” Bank of America “is the second largest commercial bank in the United States.

The newspaper reported, citing a source familiar with the company “Qatar Holding” arm direct investment to the Qatar Investment Authority, started buying shares of “Bank of America” ​​about two years ago, but they bought more shares last year’s low price per share it to $ 7, and is currently trading the price exceeds 14 dollars. ”

It pointed out that the share of Qatar in the “Bank of America” ​​did not declare, because they do not meet the regulatory requirements in the United States to reveal the holdings of shares in excess of 5 percent of the assets of financial institutions, as the share of Qatar 1 and one of the bank’s shares the U.S. amounting to marketing more than $ 150 billion. “The newspaper reported that Qatar revealed little investment in the United States, making analysts believe that it has the small portfolio of stocks, but investing in” Bank of America “confirms that the fund sovereign wealth seeks to expand its investments in, with the the continuation of the economic recovery in the country, and pay special attention to invest in real estate.

It was Qatar’s sovereign wealth fund last year accounted for a 5.2 percent stake last year of the shares of the stores, “Tiffany’s” American Jewelry, and was the first investment which reveals the company registered in the stock market in the United States. She explained, “Financial Times” that “Bank of America” ​​and the country’s sovereign wealth fund refused to comment, pointing out that the Doha contributed twice in support of the British bank’s capital “Barclays” in 2008. As part of the investment process were subject to investigation by the financial authorities in Britain regarding allegations of Qatar’s access to non-peaceful financial payments from behind.