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Qatar has bought three percent of French energy giant Total, a move welcomed by the company’s chief executive Christophe de Margerie, a Qatari daily reported on Saturday.

If confirmed, this would be the first time Total has confirmed that Qatar has raised its stake in the company.

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.


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