A $5.6 billion bid by Japan's Mitsubishi UFJ Financial Group(MUFG) for a majority stake in Thailand's Bank of Ayudhya Pcl may pave the way for more foreign acquisitions of Thai banks as regulatory restrictions ease.Thailand's central bank wants to boost the competitiveness of its banking sector to attract more foreign investment into Southeast Asia's second-largest economy. For foreign lenders keen to tap the region's booming economies, gaining control is key to make their investments worthwhile.MUFG's deal to purchase up to 75 percent of the mid-sized Ayudhya appears likely to win Thai regulatory approval, burnishing the appeal of a $1.1 billion stake in TMB Bank Pcl that Dutch financial services company ING Groep NV is seeking to sell.Potential buyers for ING's 31 percent stake in TMB have previously shied away from pursuing the deal because they were unsure about gaining control, financial sources said.
ING Groep N.V. (ING) is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers. Shares of ING remained unchanged at $9.19. In the past year, the shares have traded as low as $5.59 and as high as $10.47. On average, 2867560 shares of ING exchange hands on a given day and today's volume is recorded at 0.
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