LONDON/SINGAPORE, June 3 (Reuters) - Singapore state investor Temasek [TEM.UL] sold its stake in British bank Barclays Plc <BARC.L> several months ago at a big loss, people familiar with the matter said on Wednesday.
After spending over 1 billion pounds ($1.7 billion) on shares in Britain's second-biggest bank in the last two years, unlisted Temasek may have lost over 800 million pounds on the investment, according to calculations by Reuters.
Temasek's loss is in sharp contrast to Abu Dhabi which sold more than 11 percent of the bank's shares on Tuesday, making a $2.5 billion profit in just seven months. [ID:nL2185843]
Temasek sold its near 2 percent stake in December and January, two of the sources said. The sources asked not to be named due to the confidential nature of the investment.
"It's true that they sold in December/January," a person familiar with the deal told Reuters.
....and so much for "long term" from her beloved father-in-law you know who. it's not lee kuan me but lee kuan.....:p
After spending over 1 billion pounds ($1.7 billion) on shares in Britain's second-biggest bank in the last two years, unlisted Temasek may have lost over 800 million pounds on the investment, according to calculations by Reuters.
Temasek's loss is in sharp contrast to Abu Dhabi which sold more than 11 percent of the bank's shares on Tuesday, making a $2.5 billion profit in just seven months. [ID:nL2185843]
Temasek sold its near 2 percent stake in December and January, two of the sources said. The sources asked not to be named due to the confidential nature of the investment.
"It's true that they sold in December/January," a person familiar with the deal told Reuters.
....and so much for "long term" from her beloved father-in-law you know who. it's not lee kuan me but lee kuan.....:p