'Friends of Hamas' Qatar seeks to buy London Canary Wharf financial district. (BizNews).(AM).
Songbird Estates Plc, the owner of London’s Canary Wharf financial district, rejected an approach from Qatar Investment Authority and Brookfield Property Partners LP because the proposed bid is too low.
The Qatar fund and Brookfield may offer 295 pence a share, Songbird said in a statement today. The owner of about 69 percent of Canary Wharf Group Plc climbed 22 percent to 320 pence in London trading yesterday after announcing the approach.
“This proposal significantly undervalues Songbird and does not reflect the inherent value of the business and its underlying assets,” Songbird Chairman David Pritchard said in the statement.
Concerns have been voiced that Qatar allegedly has links with Islamic State (ISIS) jihadists, and that further ownership of property in the UK capital by the Gulf nation's investment authority should thus be avoided. Hmmm.....Money laundering anyone? Read the full story here.
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