HONG KONG Feb 6 Thanachart Bank has held
discussions with ING Groep about buying the Dutch
financial services company's 31 percent stake TMB Bank Pcl
, but no current talks are going on between the two
parties, a person familiar with the matter told Reuters.
Thanachart Bank, which is 49 percent owned by Canada's Bank
of Nova Scotia, has been interested in acquiring the
stake for some time, but Thailand's political stalemate has
slowed negotiations, the person added.
ING's 31 percent holding in TMB is valued at about $942
million based on Wednesday's closing price. The Dutch financial
services firm has been selling its non-core businesses as part
of a wider asset programme to pay down the state aid it received
during the global financial crisis.
A Singapore-based spokesman for ING declined comment, while
Thanachart Bank was not available for immediate comment.
Finance Asia magazine first reported Thanachart's interest
in buying ING's sake.