Abu Dhabi royals involved in RBS talks: sources

Tue Mar 27, 2012 10:26am EDT
 
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By Stanley Carvalho and Mirna Sleiman

ABU DHABI/DUBAI (Reuters) - Talks to sell a stake in Britain's state-owned Royal Bank of Scotland (RBS.L: Quote) are being held at the level of the Abu Dhabi ruling family, sources told Reuters on Tuesday.

A source familiar with the matter said Amanda Staveley, a businesswoman notable for her Middle Eastern connections, was advising the emirate's rulers.

"The talks have been going on for six months, and nothing is likely to materialize for the next few months," the source said, adding that Abu Dhabi could end up with a stake of more than a third, though it has not decided which of its entities would hold the stake.

Staveley played a prominent role in Abu Dhabi royal Sheikh Mansour bin Zayed al-Nahayan's 2008 investment in another British bank, Barclays (BARC.L: Quote).

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A senior banker told Reuters that the oil-rich emirate's sovereign wealth funds were not involved in talks at this stage.   Continued...

 
Pedestrians are reflected in the window of a branch of the Royal Bank of Scotland in London August 5, 2011. REUTERS/Suzanne Plunkett