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Qatar fund raises stake in Credit Suisse

Qatar Holding LLC, a unit of the state-owned Qatar Investment Authority, raised its stake in Credit Suisse Group AG to 5.01% of total company shares, the company said June 1.

Qatar Holding controls 17.98% of the voting rights in Credit Suisse, including 12.96% as purchase rights. Contingent convertible bonds account for the majority of the stake, Reuters noted June 1.

Credit Suisse aims to raise CHF4.1 billion through a rights issue announced in April.