Qatar Has 3% Stake In French Energy Giant Total - Report

Saturday, Apr 21, 2012

DOHA (AFP)--Gas-rich Qatar has bought 3% of French energy giant Total, a move welcomed by the company's chief executive Christophe de Margerie, a Qatari daily reported on Saturday.

If confirmed, this would be the first time Total has confirmed that Qatar has raised its stake in the company.

When asked by Qatari daily Al-Sharq to comment on Qatar buying the 3%, De Margerie said it was "a positive step."

In mid-March, business newspaper Les Echos reported that Qatar bought 2% of the company, becoming one of its leading shareholders behind its employees and Belgian billionaire Albert Frere and with an equal stake to that of China's State Administration of Foreign Exchange.

Qatari investors have made several major investments in France, buying the Paris Saint-Germain football club, a 5.6% stake in building firm Vinci, 5% of utility group Veolia and 10.1% in media group Lagardere.

(END) Dow Jones Newswires

21-04-12 1359GMT