LONDON (Alliance News) - US hedge fund Tiger Global has sold its entire stake in Barclays PLC, the Financial Times reported on Sunday, citing people familiar with the matter.
Prior to the deal, Tiger Global was one of the biggest investors in the UK bank with "roughly" a 2.5% interest, according to FT.
The hedge fund acquired the stake for more than USD1 billion in November 2017, when the shares were trading at 180 pence.
On Friday, Barclays shares closed at 159.50p.
According to FT, most of Tiger Global's stake was held through swaps, meaning that the sale did not show on Barclays share register.
Both companies declined to comment.
https://www.ft.com/content/344bfa1a-31db-11e9-bd3a-8b2a211d90d5?segmentId=080b04f5-af92-ae6f-0513-095d44fb3577
Barclays (BARC)