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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, People

Qatar shakes ‘dumb money’ tag after staring down Glencore

Posted on 11 September 2012

Qatar’s sovereign fund gazed into Ivan Glasenberg’s eyes and made him blink. That’s a huge victory over Glencore’s chief executive, whose nature is never to show weakness. True, the Gulf state may not have extracted the precise terms it demanded for the commodities megamerger.
But it got a significant sweetener at the eleventh hour from buyer Glencore after using its 12-per-cent stake in Xstrata to threaten to kill the deal. Far from being “dumb money,” Qatar’s sovereign fund should command a new respect in financial markets………………………………………..Full Article: Source


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