Jun 10 2013
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Qatar raises stake in France's Total to 4.8% -report
Monday, Jun 10, 2013
Qatari investors have upped their stake in Total SA (TOT) to 4.8%, said news website Wansquare Monday, citing people close to the French oil giant.
According to the news website, investors from the Gulf state have increased their participation in the past year and notably in recent weeks.
The increased stake follows an initial participation of around 2% which Qatar's sovereign wealth fund accumulated in the oil major over several months in the run-up to spring last year.
Total and Qatari officials weren't immediately available for comment.
State-owned Qatari funds have made their presence felt in France in the past couple of years, buying into a number of the country's flagship firms. Last year, investors from the gas-rich state acquired around 10% of media company Lagardere SCA (MMB.FR) and over 5% of construction giant Vinci SA (DG.FR).
Newspaper website: www.wansquare.com
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(END) Dow Jones Newswires
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