Unicorn mulls Dubai Bank Islam stake

* username: rupertbu

Bahrain's Unicorn Investment Bank reiterated on Monday it is mulling buying Dubai Group's stake in Malaysia's Bank Islam, but said a deal was not imminent as shareholders needed to agree on the right partner and price.

Dubai Group, an investment vehicle owned by the ruler of Dubai, said in October it was reviewing its options for the 40 percent stake in Malaysia's second largest Islamic bank as it shifts its focus closer to home.

"There is a degree of tension between the existing majority shareholder who would like the right partner, and the vendor who would like the right price," Frederick Stonehouse, head of strategic mergers and acquisitions at Unicorn told the Reuters Islamic Banking and Finance Summit in Bahrain.