Second suitor for Ahli United

Kuwait's Tamdeen Investment will shortly announce it received another offer for a 55% stake in Bahrain's Ahli United Bank, Al-Wasat newspaper said on Tuesday.

Tamdeen, Ahli's second-largest shareholder, will study the offer until next month before giving the investors the opportunity to do diligence on the Bahraini lender, the newspaper reported, without saying how it got the information or identifying the investors.

The deal could be completed in November, Al-Wasat said. It did not price the offer or give further details.

International Bank of Qatar, Ahli's previous suitor, said last week further talks with Tamdeen were unlikely to be successful, effectively ending its bid.

Tamdeen had earlier turned down IBQ's $2.25-per-share offer.

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