Soc­cer sheikh makes huge bank profit

Weekend Argus (Saturday Edition) - - BUSINESS -

LON­DON: An Abu Dhabi sheikh who helped UK bank Bar­clays avoid a state bail-out dur­ing the global fi­nan­cial cri­sis has sold his stake.

Sheikh Man­sour, who had in­jected £3.5 bil­lion (R52.8bn), into Bar­clays in 2008, off­loaded his 7 per­cent share last month, ac­cord­ing to a re­cent state­ment.

The dis­posal will have gen­er­ated a huge profit, be­cause Bar­clays shares have surged by more than 60 per­cent.

The sheikh owns football club Manch­ester City.

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