Second Qatar Bid for Canary Wharf rejected

A second Qatar-backed bid to buy London’s Canary Wharf has been thrown out.

Despite upping their bidding price, Qatar Investment Authority and Brookfield Property Partners the offer to Songbird Estates has again been rejected.

Songbird said the 350 pence per share offer from the pair “does not reflect the full value of the company, its unique position and future growth potential”.

QIA owns 28.6% of Songbird, while US-listed Brookfield, which operates and invests in office and industrial property, has a 22% stake in Canary Wharf Group.

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