Rage Against Barclays

"Some of bank's biggest shareholders are taking issue with its plan to raise 7.3 billion pounds ($11.2 billion) from the Middle East to tide it through the ongoing market turmoil. Insurer Legal & General, which holds 5.0% of Barclays, and Aviva Investors, which holds 1.0%, are criticizing the terms of the deal, arguing that they are too favorable for the investors from Abu Dhabi and Qatar and dilutive for existing shareholders. They are now threatening a revolt ahead of an emergency general meeting on Nov. 24 at which Barclays' capital injection must be approved, several British newspapers reported on Wednesday."