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Barclays Bank in a spot of bother regarding recent fundraising

It has been revealed that Barclays Bank has been unsuccessful in its attempt to persuade Middle East investors to soften their price which was agreed only a couple weeks ago. The move comes as Barclays investors back in the UK threaten to scupper the deal because of the fact the company is giving away nearly one third of the shares when the UK banking sector has never been so depressed.

There is concern that Barclays only went to the Middle East because the UK government threatened to attach conditions to any fundraising in this country. Major shareholders are now considering their position having made Barclays Bank aware that they are not happy with the current setup regarding new Middle East investors. Quite what will happen is anybody's guess at the moment but it looks as though there will have to be some give and take on both sides.

There is even speculation that the Middle East fund raising will be cancelled and Barclays may well be forced to utilise the UK government rescue fund to which conditions would be attached. Watch this space for further developments in due course.

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