Bangkok Bank to sell ACL stake to ICBC -paper

BANGKOK, June 30 (Reuters) - Thailand's biggest bank, Bangkok Bank BBL.BK, has agreed to sell a 19 percent stake in ACL Bank ACL.BK to Industrial and Commercial Bank of China (ICBC), the Bangkok Post reported on Tuesday.

ACL shares surged on Monday after fresh reports that ICBC (1398.HK) (601398.SS) was interested in investing in the bank and wanted the Thai government to support a stake purchase.

Kosit Panpiemras, executive chairman of Bangkok Bank, said talks between Bangkok Bank and ICBC had been completed, the daily newspaper reported.

"Now it's up to the Finance Ministry. We have to wait for government approval as (ICBC) is seeking a larger stake in ACL, and wants to launch a tender offer for other shares," Kosit was quoted as saying.

ACL is owned 30.6 percent by the Finance Ministry. ICBC has been in talks about buying a 49 percent stake from existing shareholders of the small Thai bank since October 2007.

ACL shares closed up 11 percent at 5.85 baht on Monday, while the main index ended 0.97 percent higher. ($1=34.02 Baht) (Reporting by Orathai Sriring; Editing by Alan Raybould)