June 10, 2018 / 6:42 AM / 8 months ago

Qatar's Commercial Bank ends UAB stake sale talks with Tabarak

ABU DHABI, June 10 (Reuters) - Qatar’s Commercial Bank (CBQ) said on Sunday it has ended talks with United Arab Emirates-based Tabarak Investment to buy its 40 percent stake in United Arab Bank.

CBQ said it ceased discussions with Tabarak on the stake sale, without giving details, according to separate filings on Abu Dhabi and Doha bourses.

Negotiations between the two had been going on for months on the stake sale. Reuters had reported in April that Tabarak had been granted more time to secure the financing it needs to buy a 40 percent stake in United Arab Bank.

Qatar has been embroiled in a diplomatic and commercial row with UAE, Saudi Arabia, Bahrain and Egypt since June 2017. (Reporting By Stanley Carvalho, Editing by Saeed Azhar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below