Qatar's Three-Way Bank Merger Is Said to Stall Over Price Tussle - Bloomberg

Qatar's Three-Way Bank Merger Is Said to Stall Over Price Tussle - Bloomberg:

"Talks to merge three Qatari banks have hit a roadblock as shareholders, which include former Prime Minister Sheikh Hamad bin Jassim Al Thani, disagree on price, according to people with knowledge of the matter.

Masraf Al Rayan QSC, Barwa Bank QSC and International Bank of Qatar QSC had reached an initial agreement over pricing late last year that’s since fallen apart, the people said, asking not to be identified because the matter is private. Discussions are currently on hold and it’s not clear if the deal will be revived, the people said.

Qatar started talks in December 2016 to create the country’s largest shariah-compliant bank and the Middle East’s third-biggest Islamic lender with more than 178 billion riyals ($49 billion) of assets. The banks had aimed to complete the merger by the end of 2017. The tie-up will be done once regulators approve the deal, Masraf Chairman Hussain Al-Abdulla said in February."



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