Qatar increases stake in French giant Total 

(MENAFN - The Peninsula) Qatar has bought three percent of French energy giant Total, a move welcomed by the company's chief executive Christophe de Margerie, a daily reported yesterday.

If confirmed, this would be the first time Total has confirmed that Qatar has raised its stake in the company. When asked by Al-Sharq daily to comment on Qatar buying the three percent, De Margerie said it was "a positive step".

In mid-March, business newspaper Les Echos reported that Qatar bought two percent of the company, becoming one of its leading shareholders behind its employees and Belgian billionaire Albert Frere and with an equal stake to that of China's State Administration of Foreign Exchange (SAFE).

Qatari investors have made several major investments in France, buying the Paris Saint-Germain football club, a 5.6 percent stake in building firm Vinci, five percent of utility group Veolia and 10.1 percent in media group Lagardere.