Istithmar, the investment wing of Dubai World, has interest in investing in a controlling stake in a $4 billion Western European media company.
Istithmar was considering the European media acquisition in October, but has not yet proceeded due diligence on the target and the fluctuating value of the investment.
Gulf Arab investors have spent around $76 billion on foreign mergers and acquisitions since 2002, almost 90 percent of that in 2005 and 2006.
Dubai is a leading example with acquisitions of everything from port operators to real estate.
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