| From Timesonline.co.uk: China’s state sovereign wealth fund has bailed out the heavily indebted majority owner of Canary Wharf in its first big investment in Britain.
A consortium of China Investment Corporation (CIC); Qatar Holding, the Qatari sovereign wealth fund; and a number of existing investors in Songbird Estates, the majority owner of Canary Wharf, have agreed a life-saving rescue rights issue to pay down £880 million owed by Songbird to Citigroup, the American bank. The deal saved Songbird from bankruptcy..............Full Article: Source
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