Odey buys £10m more shares in 'cheapest bank in the world'

Odey Asset Management founder Crispin Odey has been picking up shares in Barclays Bank after the share price fell more than 15% in a single day.

The bank has been under fire for its involvement in rigging interbank lending rates, and has seen its share price plunge over the past week to trade at 165.54p today, compared to a year high of 287p. Odey (pictured), a founding partner at the hedge fund group, already owns £60m worth of shares in Barclays, a 0.25% stake. He told Reuters yesterday he had snapped up a further £10m of shares on Tuesday at 160p each. "It is the cheapest bank in the world," said Odey, who made millions in 2009 after buying into Barclays, which saw its shares soar 150% from the start of the year to the e...