MARKETS Turmoil in the global markets leaves a gaping financial hole. A sovereign wealth fund piles in at short notice to fill the gap, ending up with a 10 per cent stake in one of the world’s biggest companies. Sound familiar?
Of course it does. But this is not a description of the US mortgage meltdown forcing UBS to sell a 9 per cent stake to the Singapore Government to replenish its Tier 1 capital. Nor is it Abu Dhabi’s $7.5bn investment in Citigroup.
