Thai TMB shares jump after Reuters reveals ING stake plans

Shares in Thailand`s TMB Bank jumped as much as 13 percent on July 7 to their highest since November 2007 after Reuters broke news that Dutch financial group ING wanted to buy an additional stake from the Thai Finance Ministry. TMB’s chairwoman Saowanee Kamolbutr told Reuters ING was planning to increase its existing 30 percent stake bid for another 5 percent initially and could then bid with partners for the remaining 21 percent. TMB shares, which had been trading lower, immediately jumped, ending up 6.4 percent.