Qatari bank still in talks for Turkey's DenizBank
January 29, 2012
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DOHA, Qatar—Qatar National Bank says it remains in merger talks with the Turkish division of troubled Franco-Belgian lender Dexia, though no deal has been reached yet.
Chairman Yousef Kamal told reporters gathered for a bank meeting Sunday that the state-backed lender would consider taking over DenizBank if the price is right. He didn't elaborate.
QNB disclosed in October it was considering acquiring a controlling stake in DenizBank. It has said little about the talks since.
Qatar's sovereign wealth fund, the Qatar Investment Authority, controls QNB through a 50 percent stake.
Last month an investment firm controlled by Qatar's ruling family bought 90 percent of Dexia's Luxembourg subsidiary as part of a $950 million deal.
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