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Article: Traffic Corner close to completing acquisition of Business Day.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- June 23, 2006
CopyrightCOPYRIGHT 2006 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bamrung Amnatcharoenrit
Jun. 23--A unit of Traffic Corner Plc is preparing to take control of Business Day, an English-language business daily, in a deal due to be closed later this month.
The deal would involve a share swap, according to sources close to the talks.
They said that Chatchai Yenbamrung, the major shareholder of the 10-year-old newspaper, was looking to sell out his holdings.
Business Day stands well behind The Nation and the market leading Bangkok Post in the English-language sector.
Mr Chatchai declined yesterday to comment on the deal. "There's nothing that has happened so far," he said.
But ...