Mitsubishi UFJ eyes Ayudhya Bank
Mitsubishi UFJ Financial Group Inc has expressed interest in buying a stake in Bank of Ayudhya Pcl from General Electric Co (GE), which has yet to give an offer for the Thai lender, said an executive from Japan’s biggest bank.
- Published: 10/01/2013 at 03:34 PM
- Newspaper section: breakingnews
"We expressed our interest but it hasn't reached the discussion stage yet," Takashi Morimura, deputy president and group CEO of global banking and lending unit, Bank of Tokyo- Mitsubishi UFJ Ltd, said in an interview on Thursday.
Mitsubishi UFJ won the bidding to buy GE's 25.3% stake in Bank of Ayudhya, the Kao Hoon newspaper reported on Dec 24. The Japanese bank is expanding in Southeast Asia amid tepid loan demand at home, last month announcing plans to buy 20% of Hanoi-based VietinBank (CTG) for 15.5 trillion dong (US$743 million).
"Our name was well received but at this stage we haven’t received a firm offer" from GE, Mr Morimura said in Hong Kong.
About the author
- Writer: Bloomberg News
- Position: News agency