Wednesday, 27 September 2017

REFILE-UPDATE 2-Qatar's Commercial Bank in talks to sell United Arab Bank stake

REFILE-UPDATE 2-Qatar's Commercial Bank in talks to sell United Arab Bank stake:

"Qatari’s third-biggest lender, Commercial Bank, is in talks to sell its $217 million stake in Abu Dhabi-listed United Arab Bank, joining several Qatari companies exiting the United Arab Emirates (UAE) due to a widening Gulf rift. The potential buyer is a UAE-based strategic investor, two sources said, without giving its name. One of the sources said Commercial Bank (CBQ) had been considering selling its 40 percent stake in United Arab Bank even before June when Doha’s spat with some of its Arab neighbours began, but the Gulf crisis accelerated its plan."



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