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News 41

Qatar poised to snap up £11bn stake in Shell

Shell looks set to acquire a major new shareholder with Qatar poised to clinch a deal in which it would spend an estimated $11 billion (£6.8 billion) to pick up as much as 5% of the oil giant.

Shares in Shell jumped by 6.5p to 2057p as it welcomed reports that the Qatar Investment Authority was in advanced discussions to buy between 3% and 5% of its shares, in a deal which, at 5%, would make the country its biggest investor.

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