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Singapore state investor Temasek sold its stake in British bank Barclays Plc several months ago at a big loss, people familiar with the matter said on Wednesday.
After spending over 1 billion pounds on the shares in the last two years, unlisted Temasek may have lost over 800 million pounds ($1.3 billion) on the investment, according to calculations by Reuters.
Temasek sold its near 2 percent stake in Britain’s second biggest bank in December and January, one of the sources said. The sources declined to be named due to the confidential nature of the investment.
Temasek and Barclays declined to comment, and details of the price it sold at were not known.