CORRECT:Abraaj Talks To Buy Dubai DP World Stake Collapse - Bankers

Dubai-based private equity firm Abraaj Capital's five-month-old talks to buy a stake in Nasdaq Dubai-listed DP World may have collapsed after both firms failed to agree terms, bankers familiar with the deal said Monday.

"The deal isn't happening," one of the bankers working on the transaction told Zawya Dow Jones. "There were lots of obstacles that minimized the chances of success," he added without providing further details.

Another banker close to the talks said the deal was off because DP World, which is majority-owned by Dubai World, decided to pull out of the negotiations.