Jury hears that Barclays had an unusual suitor during financial crisis

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During the height of the financial crisis, as Barclays was desperately battling to avoid taking a U.K. bailout, the bank got an unusual approach from the Russian government.

Bloomberg News reports that the Russian government signaled its intention to take a $641m stake in the bank, according to minutes of an October 2008 finance committee meeting that was shown to a jury during the fraud trial of senior Barclays officials. With the involvement of Hans-Joerg Rudloff, a Barclays banker with close links to the Russian government, Moscow was proposing to take a 1.5%.

The approach was revealed as the bank sought to nail down its preferred Qatari and Abu Dhabi investors to a fundraising plan that would remove the threat of a government bailout. The bank was said to be "very wary" about Russia, the minutes showed.

Hit the link below to access the complete Bloomberg News article:

As Barclays Tried to Avoid Bailout, Russia Offered to Buy a Stake

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