An Abu Dhabi-based bank is likely to buy a significant stake in an Indian bank, UAE Ambassador to India Abdulnasser Alshaali said during an interview with CNBC-TV18.
The deal could be worth billions of dollars, the envoy said in the interview, without disclosing the names of the banks involved.
Certain issues need to be addressed before the deal can be finalized, Alshaali said, expressing optimism that concerns will be resolved soon.
The move reflects the growing bilateral relations ship between the two countries.
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