Dubai takes stake in HSBC

For the second time in as many months, a Mideastern investor has acquired what it called a “substantial” stake in British bank HSBC Holdings PLC, according to published reports.
MAY 02, 2007
For the second time in as many months, a Mideastern investor has acquired what it called a “substantial” stake in British bank HSBC Holdings PLC, according to published reports. Dubai’s investment arm purchased the stake. Just last month Saudi Arabian investor Maan Abdulwahed al-Sanea purchased a 3.1% stake in HSBC, according to a regulatory filing from the London Stock Exchange. Dubai, the second-largest sheikdom in the United Arab Emirates, also has a stake in London-based Standard Chartered PLC, according to reports.

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