(Thailand) – Australia’s ANZ Banking Group has confirmed it is talks to take up to a 20 percent stake in Thailand’s sixth largest bank, Thai Military Bank (TMB).TMB is 50 percent owned by the Thai Government, and 13 percent by the Thai Armed forces after a share sale recapitalisation in early 2000.
Thai analysts have described TMB as an unlikely target for the ANZ, arguing that the Australian bank would have little management influence with a stake of only 20 percent.