A man rides a bicycle past Emirates NBD head office in Dubai, UAE January 30, 2018. REUTERS/Satish Kumar
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Still, the deal could prove to be the riskiest yet for Dubai's biggest bank – if it isn't derailed entirely. Since Emirates NBD agreed to buy the Turkish lender from Russia's Sberbank for 14.6 billion liras – worth $3.2 billion on May 22 – the value of the acquisition has fallen to about $2.1 billion in dollar terms. Emirates NBD fell 4.6 percent to close at 9.38 dirhams ($2.55) Monday, sliding 6.2 percent in two days, and was one of the biggest losers on Dubai's main stock gauge.At the time of the deal, Sberbank's Morozov told Bloomberg the final price would be in the range of $3.4 billion to $3.7 billion, depending on exchange-rate fluctuations and how long it takes to close the deal. He repeated Monday that the bank expects that price range.
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