Nov 29 Japan's biggest bank Mitsubishi UFJ
Financial Group is among the suitors to submit
preliminary bids for General Electric's (GE) $1.5 billion
stake in Thailand's fifth-largest lender, Bank of Ayudhya
, sources said.
GE received "multiple" bids last week for its 25.3 percent
stake in Bank of Ayudhya, one source with direct knowledge of
the matter told Reuters, adding that short-listed parties may
put in second-round bids after Christmas.
Morgan Stanley, which is advising GE on the stake
sale, declined to comment.
MUFG and a Singapore-based GE Capital spokesman also
declined to comment. The sources declined to be identified
because the auction process is not public.