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Gulf state buys stake in Spain's Iberdrola

Source: Reuters - Mon 14th Mar 2011

Qatar Holdings has announced they are to invest in a 6.16% stake in Iberdrola. The 2.2 Billion Euros will help the Spanish Utility corporation finance its expanding Brazilian operation and lessen the influence of ACS.

Only last month, following a visit by the Spanish PM, the Gulf state announced it is to invest 3 billion euros in the country's telecommunications and energy industries. The banking sector will also receive a 300 million euros capital boost.

Fellow Gulf State member, Abu Dhabi, will also invest 150 Million Euros in a further Spanish savings bank, which is as yet unnamed.

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