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RBS shares rise on news report of possible Qatari investment

RBS shares rise on news report of possible Qatari investment

Shares of Royal Bank of Scotland Group PLC rose 7.2 percent Monday after a British newspaper reported that the Qatari government is considering buying a stake in Britain's second-largest lender.
The Qatar Investment Authority is considering taking a stake in RBS as part of a US$15 billion (euro10.1 billion) program to invest in European and U.S. banks, according to the Sunday Telegraph, which cited people familiar with the situation.
"We wouldn't comment on market speculation," said Fiona MacRae, media relations manager for RBS.
Earlier in February news reports said Qatar acquired over 2 percent of Credit Suisse's shares, a move that followed news that rival bank UBS plans for heavy investments by Singapore's government fund and from an unidentified Middle East investor.
"RBS is on a list of undervalued banks that Qatar is looking at as part of a review of the sector," the newspaper cites one person close to the QIA as saying.
The shares rose to 405.25 pence (US$7.97; euro5.38) on the London Stock Exchange.


Updated : 2021-05-17 22:26 GMT+08:00