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Barclays boosts balance sheet

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Barclays boosts balance sheet

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Barclays is turning to Mideast investors to repair its balance sheet, so that it does not have to take money from the British government. Investors from Qatar, Abu Dhabi and elsewhere are putting in 9.3 billion euros. They could end up owning around a third of the Britain’s second biggest bank.

By rejecting government bailout money, Barclays is not subject to restrictions on things like bonuses for board members. It has lost billions from credit-related asset writedowns.