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LONDON : Barclays said on Tuesday that proposed investors from the oil-rich Gulf would dispose of shares worth 500 million pounds should its capital injection win the support of existing shareholders.
It had been reported that big existing Barclays shareholders had threatened to vote against the bank's bid to raise billions of pounds from Gulf investors.
Last month, Barclays announced a capital injection worth 7.78 billion pounds, mostly from oil-rich investors in Abu Dhabi and Qatar, to bolster its finances amid the global credit crunch.
Although the cash call fell slightly short of target, the fresh capital means Barclays will not have to tap funding from the government, unlike some of its competitors, as it grapples with the worst financial crisis in decades.
- AFP/ir
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