Re: Barclays Bank runs to Arabs for money

basho007 <basho@xxxxxxxxxxxxxxxx> wrote in news:Xns9B4861787956Cbasho@
69.16.176.253:

Pete L <peterlavington@xxxxxxxxxxx> wrote in
news:0b21c4f5-ddf7-4a95-964c-5f0934f68c9c@xxxxxxxxxxxxxxxxxxxxxxxxxxxx:

On 31 Oct, 08:26, Ar <A...@xxxxxxxxx> wrote:
Taking the lead from Gordon Brown, now Barclays Bank has run to the
Arab nations begging for money.

http://news.bbc.co.uk/1/hi/business/7701405.stm

"
British bank Barclays has announced a proposal to raise up to £7.3bn
to strengthen its balance ***.

The money will be mainly raised from the state investment funds and
royal families of Qatar and Abu Dhabi.

Unlike other big UK banks, Barclays did not want to accept cash from
the UK government and said the move would keep it "strong and
independent". "

The Gulf countries concerned have a pretty smart deal. From what I
gather they are getting 10% interest. If Barclays defaults they know
that the British Govt will definitely bail them out and they get their
money back. Barclays can now get on with making money without any
interference from the Govt if they had taken their money. Win win all
round.





and, their stock has gone up today.




definately spoke to soon on that one! (as of 10:50 am)


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