ABU DHABI: Qatar's Commercial Bank (CBQ)  said on Sunday it has ended talks with United Arab Emirates (UAE)-based Tabarak Investment to buy its 40 percent stake in United Arab Bank UAB.AD , after the pair failed to agree terms.

CBQ made the announcement in separate filings on the Abu Dhabi and Doha bourses, without going into detail. The stake has a market value of about $308 million.

A spokesman for Tabarak told Reuters that the parties could not agree final terms.

However, two sources told Reuters that the deal fell through because Tabarak found it difficult to raise financing. One of the sources said Tabarak then tried to change the pricing and terms of the deal.

"Tabarak continues to seek new investment opportunities," Tabarak's spokesman said.

CBQ's shares on Sunday fell as much as 4.9 percent after the announcement, while United Arab Bank shares were little changed.

Negotiations between the two had been going on for months. Reuters had reported in April that Tabarak had been granted more time to secure the financing it needs to buy a 40 percent stake in United Arab Bank. 

Qatar has been embroiled in a diplomatic and commercial row with the UAE, Saudi Arabia, Bahrain and Egypt since June 2017.

(Reporting By Stanley Carvalho and Hadeel Al Sayegh; Editing by Elaine Hardcastle) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; Reuters Messaging: stanley.carvalho.thomsonreuters.com@reuters.net))

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