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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)

ThaiVest Editorial Team