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Barclays to raise £6.5bn alone

Barclays bank has turned down emergency funding from the government and says it will raise £6.5bn independently from private investors.

The high-street bank announced plans to sell more than £6.5bn of shares to investors to help strengthen its balance sheet as the government pledges £37bn of funding to Royal Bank of Scotland, HBOS and Lloyds TSB.

Barclays says it will not pay a final shareholder dividend for 2008, saving the group £2bn and plans to resume dividend payments in the second half of 2009.


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