FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Barclays shareholders pull back from the brink

It has been reported that Legal and General, a major shareholder in Barclays, has pulled back from fighting the recent Middle East fundraising. There had been concerns that the vote would be tight and the deal could possibly have been scuppered at the last minute but these have now disappeared. Leading shareholders have now decided to back off after a number of concessions were offered by the Barclays board.



The recent announcement by the government that any rescue packages negotiated in the future would be on less favourable terms than those in the past was also something which seems to have been foremost in the minds of investors. They are not happy that the 13% interest rate afforded to the Middle East fundraising is well out of sync with the government's offer but the extra capital is vital for the success of the group in the future are no more risks can be taken.



This will be a relief to the Barclays board although we could see some repercussions in the future when certain key directors are up for re-election. We seem to be entering a phase of shareholder power with the management of many of the U.K.'s largest banking companies forced to go cap in hand to shareholders for extra finance.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue