U.S. hedge fund Tiger Global has sold its entire stake in Barclays, dealing a blow to the bank’s efforts to win support for its turnaround plan, the Financial Times reported.
Bloomberg News reports that Tiger, which held a stake of about 2.5% in the U.K. bank, started reducing its position last year, before exiting it entirely early this year, the FT reported, citing unidentified people familiar with the situation.
In the meantime, Bloomberg also reports that Deutsche Banks top investor, HNA Group Co., continued to reduce its stake in the bank as the debt-laden Chinese conglomerate prepares to exit one of its most high-profile purchases.
HNA’s C-Quadrat unit exercised options to sell 26.8 million Deutsche Bank shares for 363.4 million euros ($410 million), reducing its ownership to 6.3 percent, according to a filing with the Securities and Exchange Commission.
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