Doha – Mubasher: Qatar Investment Authority (QIA) is planning to buy a major stake in Irish telecom company Eir, Irish Times newspaper reported on Thursday.

The gulf state’s sovereign wealth fund seeks to acquire a stake of 15% owned by York Capital, the second largest shareholder in Eir, in addition to a number of smaller shareholdings owned by other funds in the telecom firm.

The newspaper said that Eir and York Capital refused to comment on the acquisition reports.

QIA’s assets amount to $256 billion, according to Sovereign Wealth Fund Institute.