MAN SE, IPIC talks about Ferrostaal stall -source

MUNICH, May 16 (Reuters) - Talks between MAN and Abu Dhabi's IPIC seeking to resolve a dispute about Ferrostaal have stalled, a source close to IPIC said on Monday.

The IPIC management is very unhappy that there has been no progress on their negotiations, the person told Reuters on Monday.

But IPIC is still prepared to find an amicable settlement with MAN, the person added.

IPIC and MAN declined to comment.

MAN has been trying to hive off Ferrostaal and sold 70 percent of the company to IPIC in 2009.

But when it tried to sell the remaining 30 percent to IPIC via a put option in early 2010, the sovereign wealth fund refused, citing an unresolved bribery investigation and later sought to annul the original purchase agreement.

(Reporting by Andreas Kroener; writing by Marilyn Gerlach) Keywords: MAN/FERROSTAAL ([e-mail]; [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.