Qatar, the wealthy Gulf Arab state whose foreign assets include London property and investments in Volkswagen, may buy Christie's auction house to bolster its cultural credentials, the Financial Times said.
Qatar's ruler, Sheikh Hamad bin Khalifa al-Thani, told the newspaper that buying the auction house would fit in with plans to make the tiny state, the world's largest liquefied natural gas exporter, a cultural destination.
”We are building a museum, and it (Christie's) has links with the stuff we are collecting for our museum, he was quoted as saying. It depends on the opportunity - if we had a good opportunity we would not hesitate.”
Christie's is owned by French billionaire Francois Pinault.
In the past year alone, Qatar, through its sovereign wealth fund, has taken a 10-percent in Volkswagen AG, bought famed London department store Harrods, acquired Singapore's historic Raffles hotel as well as the landmark US embassy building in London
Top Comments
Disclaimer & comment ruleswhy don’t he buy the houses of parliament, and take it home with him.
Oct 25th, 2010 - 09:52 pm 0We don’t want it, he can have it very cheap and the MPs that go with it ??
Good, I love these people buying stuff and property.
Oct 26th, 2010 - 03:15 pm 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!