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QIB ends talks over Bank Asya stake acquisition

: Thursday, July 03 - 2014 @ 02:39

Qatar Islamic Bank (QIB) and Turkey’s Bank Asya have decided to end exclusive talks over QIB acquiring a stake in the Turkish lender, due to valuation concerns, Reuters has reported, citing four sources close to the matter. The talks with QIB faltered after the banks failed to agree a price, the sources said. “Talks with QIB ended,” one source close to the deal said. “They (QIB) couldn’t be seen to be overpaying for it as it’s a very sensitive issue in Qatar right now, especially for a Turkish bank asset,” said a senior Qatari banker with knowledge of the matter. It was not clear what size stake had been under discussion.

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Thursday, July 3- 2014 @ 2:39 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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