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Article: CIMB clinches BankThai stake?

Article from:
New Straits Times
Article date:
June 20, 2008
Author:
Copyright

Chong Pooi Koon
New Straits Times
06-20-2008
CIMB clinches BankThai stake?
Byline: Chong Pooi Koon
Edition: Main/Lifestyle
Section: Business Times
Type: Company

CIMB Group is believed to have won a bid to buy 42 per cent of BankThai pcl, a loss-making lender in Thailand hit by the US subprime crisis, beating stronger rivals like HSBC Holdings plc and Standard Chartered plc.

BankThai is the smallest of Thailand's four state-controlled banks.
The stake that CIMB is bidding for is owned by the Thai central bank through its unit, Financial Institution Development Fund.

BankThai has asked the Thai stock exchange to suspend its shares pending the result of talks on the sale of the 42 per cent ...

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