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QIA bullish on Shell-BG proposal

Qatar's state investment vehicle QIA has hedged its bets with the Shell-BG proposed takeover

Sovereign wealth funds’ responses to the proposed takeover of UK BG by the Anglo-Dutch major Shell were generally low-key. The deal is working its way through the relevant regulatory processes and the US anti-trust agency gave the deal its greenlight 17 June. Norges Bank Investment Management, the arm of Norway's central bank that manages the $861bn Government Pension Fund Global, added BG shares to its portfolio, which also includes a 5% stake in Shell. China's State Administration of Foreign Exchange, an arm of the People's Bank of China that has about $500bn under its belt to invest in non-treasury assets, played the markets more modestly, cutting its stake at a profit after BG's share p

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