The QIA reportedly sold 4.4 million shares in the luxury jewelry retailer.
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Qatar's sovereign wealth fund sold a block of shares in luxury jewelry retailer Tiffany & Co. weeks after reducing stakes in Credit Suisse Group AG and Rosneft PJSC. The Qatar Investment Authority sold 4.4 million shares in a block sale valued at as much as $417 million via Morgan Stanley, according to a statement provided to Bloomberg by the U.S. bank on behalf of the holder. The QIA and Glencore Plc last week also agreed to sell most of the stakes they purchased in Rosneft in December.The QIA boosted its stake in Tiffany to 8.7 percent at the end of 2012, according to a 2013 regulatory filing. Tiffany shares closed down 1 percent at $95.51 on the New York Stock Exchange Wednesday.
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