Liverpool's American owners have been accused of living in "dreamland" by the government-run Dubai investment fund interested in buying the Anfield club.
Dubai Investment Capital confirmed on Tuesday it had been in talks with US duo Tom Hicks and George Gillett about purchasing a stake in the Reds.
DIC chief executive Sameer al-Ansari said: "It's no secret that we have been in discussions with the current owners.
"It's not easy because (they) are in dreamland about valuations."
Ansari later clarified that one of the club's owners "had come out of dreamland", without giving further details.
Hicks said last month he was not planning to sell a stake in Liverpool, denying media speculation he was in talks with DIC over a sale.
He also revealed that Gillett could not sell his stake in the Premier League club without his approval.
However, both Hicks and Gillett have become increasingly unpopular among Reds fans, drawing criticism for their treatment of manager Rafael Benitez and their financial management of the club.
That has given fresh hope to DIC, who were considering buying Liverpool before the Americans joined forces to complete their own takeover in February 2007.
Hicks said in January he had talked to DIC "once" about a 10-15% stake, but DIC said the valuation was too high.
DIC, which manages about £6.5bn of assets, is owned by Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai.
Dubai Investment Capital confirmed on Tuesday it had been in talks with US duo Tom Hicks and George Gillett about purchasing a stake in the Reds.
DIC chief executive Sameer al-Ansari said: "It's no secret that we have been in discussions with the current owners.
"It's not easy because (they) are in dreamland about valuations."
Ansari later clarified that one of the club's owners "had come out of dreamland", without giving further details.
Hicks said last month he was not planning to sell a stake in Liverpool, denying media speculation he was in talks with DIC over a sale.
He also revealed that Gillett could not sell his stake in the Premier League club without his approval.
However, both Hicks and Gillett have become increasingly unpopular among Reds fans, drawing criticism for their treatment of manager Rafael Benitez and their financial management of the club.
That has given fresh hope to DIC, who were considering buying Liverpool before the Americans joined forces to complete their own takeover in February 2007.
Hicks said in January he had talked to DIC "once" about a 10-15% stake, but DIC said the valuation was too high.
DIC, which manages about £6.5bn of assets, is owned by Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai.