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Assuming 2 files list1 and list2 has list in same line:
# cat list1
abc jones oracle smith ssm tty

# cat list2
abc jones lmn smith ssm xyz
Here is a solution in BASH using only built-ins: ...

Why do you need a loop for this?

You can loop over the output of the comm command:
comm -13 list1 list2 | while read l ; do echo $l ; doneOr use something like this:
while read list2 ; do
...

comm -13 list1 list2

Match a string starting at the beginning of the string (^) consisting of 5 sequences ((...){5}) of one or more (+) non pipe symbols ([^|]) followed by one or more pipe symbols ([|]+) followed by...