Stocks in the news (Makro, Thai) 26.04.13

MAKRO

SET to probe Siam Makro trades —The SET will investigate trading that preceded the announcement of the country’s largest takeover bid, the purchase of discount wholesaler Siam Makro Plc (MAKRO) by 7-Eleven chain operator CP All Plc (CPALL). Siam Makro’s shares rose 30% in the six trading sessions before CP All’s US$6.6bn bid was announced. The stock jumped 15% on April 17, while the volume of shares traded rose to 1.6mn, almost four times the six-month average. CP All, backed by Thai billionaire Dhanin Chearavanont, offered to buy Siam Makro for 787 baht a share on April 23. (Bangkok Post website, 25/04/13)

THAI

Thai Smile plan hits air pocket — A plan to set up Thai Smile Airways Co as a subsidiary of Thai Airways International has been sent back to the national carrier by the Transport Ministry for further study. Deputy Transport Minister Prin Suwanatat said after a meeting with THAI executives on Thursday that THAI was ordered to give more details of the plan and resubmit it to a meeting next week. The ministry’s main concern was its affect on the revenue of THAI as Thai Smile plans to launch or take over some domestic and regional destinations from its parent. (Bangkok Post website, 25/04/13)

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