REFILE-UPDATE 2-Qatar’s Commercial Bank in talks to sell United Arab Bank stake (By Reuters)

1. ABU DHABI/DUBAI, Sept 26 (Reuters) – Qatari’s third-biggest lender, Commercial Bank, is in talks to sell its $217 million stake in Abu Dhabi-listed United Arab Bank, joining several Qatari companies exiting the United Arab Emirates (UAE) due to a widening Gulf rift.

2. One of the sources said Commercial Bank (CBQ) had been considering selling its 40 percent stake in United Arab Bank even before June when Doha’s spat with some of its Arab neighbours began, but the Gulf crisis accelerated its plan.

3. Commercial Bank CEO Joseph Abraham told Reuters on Monday that board meetings at United Arab Bank were now held by video conference because of travel restrictions imposed by the UAE.

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