Barclays' [Pounds]7bn Mid-East Bailout to Get Go-Ahead ; Banking

Evening Standard - London › November 14, 2008

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Summary

BARCLAYS' [pounds]7 billion bailout, mainly from Middle Eastern investors, looked increasingly likely to go ahead today even as the bank's existing shareholders vented their frustration at the terms of the deal.

Marcus Agius, chairman, and John Varley, chief executive, today met the Association of British Insurers (ABI) which represents institutions who own around a fifth of the stock market.

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Extract

Barclays' [Pounds]7bn Mid-East Bailout to Get Go-Ahead ; Banking

The ABI has issued its members with a so-called "Amber Top" notice about next Friday's meeting to approve the bailout. Such a notice advises institutions that ...

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