Thai TMB Bank shares up after report Japanese Mizuho to buy stake

BANGKOK Sun Oct 13, 2013 11:39pm EDT

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BANGKOK Oct 14 (Reuters) - Shares in TMB Bank Pcl gained as much as 2.9 percent to a four-week high of 2.88 baht on Monday after local newspaper Kaohoon quoted a financial source as saying Japanese Mizuho Financial Group planned to buy a stake in the Thai bank.

Mizuho aimed to buy TMB Bank shares at 3.90 baht each, the newspaper said. The bank did not confirm the report.

"We would like to clarify that the Bank has never been informed or contacted about the matter," it said in a statement to the stock exchange of Thailand.

At 0323 GMT, TMB Bank shares were up at 2.86 baht from 2.80 baht on Friday, while the benchmark SET index was down 0.9 percent.

Several foreign financial firms were reportedly keen to acquire a stake in TMB Bank that Dutch financial services company ING Group NV, which owns around 31 percent, wants to sell. (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)

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