View the article online at http://citywire.co.uk/money/article/a646310
Man City boss Sheikh Mansour buys more Barclays shares
Sheikh Mansour Bin Zayed Al Nahyan, owner of Manchester City Football Club, has added to his position in Barclays.
Sheikh Mansour Bin Zayed Al Nahyan, owner of Manchester City Football Club, has increased his stake in Barclays (BARC.L).
Shrugging off the bank's recent troubles surrounding Libor rate manipulation, energy trading claims and a fine from the Spanish regulator over structured bond sales, Sheikh Mansour took his position in Barclays above the 7% mark, according to a stock market filing published last night.
The transaction was logged as an 'acquisition of instruments' and left the Sheikh with an indirect Barclays holding of just over 6.1% and voting rights slightly above 7%.
Like the Sheikh's football side – which earlier this year lifted its first Premier League title in 44 years – Barclays shares have begun to return to form despite the bank's difficulties earlier this year.
Shares in the bank crashed 17% shortly after it was hit with a record £290 million fine for fixing Libor and the bank continued to trade sub-200p in the weeks that followed as senior executives left amid the scandal.
Today, the shares closed up 1.9% or nearly 5p higher at 261.65p, a long way up on its 150p low in July.
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
What can SLI bring to the table for those who want to put their money into investment trusts?
More about this:
Look up the shares
More from us
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add email@example.com to your safe senders list so we don't get junked.
by Michelle McGagh on Aug 01, 2014 at 05:01