Qatar's sovereign wealth fund has built a 5-percent stake in Xstrata ahead of the mining giant's planned $41 billion takeover by commodities trader Glencore.The tiny Gulf Arab state's sovereign wealth fund, Qatar Investment Authority (QIA), now ranks as the third-largest shareholder in Xstrata behind Glencore and asset manager BlackRock Inc, according to Reuters data.Regulatory filings showed that Qatar, which owns stakes in Credit Suisse and supermarket chain Harrods, built up its Xstrata holding -- worth $2.65 billion at current prices -- through a series of stock market transactions which began soon after Glencore announced it was buying the company.No immediate comment was available from the Qatar fund.
BlackRock, Inc. (BlackRock) is an independent investment management firm. Shares of BLK traded higher by 1.06% or $2.16/share to $205.98. In the past year, the shares have traded as low as $137.00 and as high as $209.37. On average, 668074 shares of BLK exchange hands on a given day and today's volume is recorded at 969272.
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