Qatar is launching another multibillion-dollar push into the banking sector, buying fresh stakes in Russia’s VTB and Germany’s Deutsche Bank.
The Qatar Investment Authority, the principal fund responsible for allocating the gas-rich emirate’s vast wealth, is poised this week to invest up to $1bn as part of a $3.2bn capital raising by VTB, Russia’s second-biggest bank, according to people close to the transaction.
The move comes only three weeks after Deutsche Bank raised €2.9bn from investors as it shored up its capital ratios.
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