Abu Dhabi Group in talks to sell UBL stake

THE Abu Dhabi Group said Wednesday it has received an unsolicited offer for its 24.75 per cent holding in Pakistans United Bank United Bank Ltd. and that it has contacted some other prospective buyers to seek their interest in buying the stake Daw Jones repoted Wednesday. In a filing to the Karachi Stock Exchange, the group said it has investments and businesses in various countries including Pakistan and that it evaluates strategic options at all times. It didnt give any other details. The filing comes after United Bank Monday sent a letter to the group following market rumours that the group has been approached to sell its stake in the lender.

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