Qatari investors have upped their stake in Total SA (TOT) to 4.8%, said news website Wansquare Monday, citing people close to the French oil giant.
Qatari investors have upped their stake in Total SA (TOT) to 4.8%, said
news website Wansquare Monday, citing people close to the French oil giant.
According to the news website, investors from the Gulf state have increased
their participation in the past year and notably in recent weeks.
The increased stake follows an initial participation of around 2% which
Qatar
's
sovereign wealth fund accumulated in the oil major over several months in the
run-up to spring last year.
With a 4.8% stake,
Qatar
is
one of Total's largest individual shareholders, behind Belgian billionaire
Albert Frere and his family, who controlled 5.4% of Total at the end of 2012,
and the company's workers who collectively owned 4.4%.
Total and Qatari officials weren't immediately available for comment.
Qatar
's
growing ties with Total were recently underscored when Qatar Petroleum agreed
to take a 15% stake in the French company's oil and gas exploration project in
Congo
last
month.
State-owned Qatari funds have made their presence felt in
France
in
the past couple of years, buying into a number of the country's flagship firms.
Last year, investors from the gas-rich state acquired around 10% of media
company Lagardere SCA (MMB.FR) and over 5% of construction giant Vinci SA
(DG.FR).
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