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Abu Dhabi royals to buy RBS stake?


Abu Dhabi royals to buy RBS stake?


Royal Bank of Scotland’s shares jumped 3.3 percent on Tuesday following reports that talks are underway about selling more than a third of the British state-owned lender to Abu Dhabi.

The discussion are said to have been underway for six months with no imminent outcome expected.

In 2008, Abu Dhabi’s royal family invested in another British bank, Barclays and the same go-between is reported to be involved in these negotiations.

She is Amanda Staveley, a businesswoman notable for her Middle Eastern connections, who advised Abu Dhabi royal Sheikh Mansour bin Zayed al-Nahayan on the Barclays deal.

“Abu Dhabi is always talking to parties to invest, including RBS. Whether it will materialise or not is too early to say,” a source close to the royal family told Reuters on condition of anonymity.

A deal at the current share price would leave British taxpayers with billions of pounds of losses on the bank which is 83 percent state owned.

RBS lost two billion pounds (2.4 billion euros) last year, its fourth straight annual loss, pushing back the time it is expected to deliver returns for investors.

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