Chinese bank in pole position for ACL stake

Thailand will consider a tender offer by the Industrial and Commercial Bank of China, the world’s largest by value, to buy a controlling stake in ACL Bank at Bt11.50 a share if there is “no better” proposal. “The proposed price and the potential buyer are satisfactory,” Finance Minister Korn Chatikavanij told reporters via a video conference from Istanbul yesterday. “If there is no better proposal, we’re ready and satisfied to sell ACL’s stake at the same price as the market.” (The Nation)