CP All rumoured to negotiate for Siam Makro's stake
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Siam Makro has asked for the suspension in share trading during April 22-23, amid rumours that CP All is in talks to take over a majority stake in the cash and carry company.
In a statement to the Stock Exchange of Thailand, Siam Makro said that the company plans an announcement which may affect the company's share price.
Amid a rumour that its major shareholder, Siam Makro Holding (Thailand), would unload shares, Siam Makro share price has been rising in the past month. From Bt496 on March 19, it rose 37.5 per cent to Bt682 on April 19. The shareholder, which owns 132 million shares or 55.01 per cent of outstanding shares, later denied the rumour.
A new rumour goes that CP All, the operator of 7-Eleven convenience store chain in Thailand, agrees to buy Siam Makro shares at Bt800 apiece. There are talks that Central Group may be another party to bid for the stake in Siam Makro.
