Foreign companies to buy stakes in Thai Post
Two post office companies, one Asian and one European, plan to jointly invest with Krung Thai Bank PCL in Thailand Post Co, the Nation reports, quoting Krung Thai Bank’s President Viroj Nualkhair.
Thailand Post Co, wholly owned by the Finance Ministry, is the sole operator of postal offices across Thailand. It was separated from the Communication Authority of Thailand as part of the privatization plan.
State-owned Krung Thai Bank earlier announced plans to take a majority stake in Thailand Post. The bank plans to become a postal-banking entity in two years, Viroj said.
The Netherlands-based ING group, which has overseas expertise in the field, will advise the bank on the plan.
Along with the two foreign partners, which weren’t identified in the report, Krungthai Card PCL – the bank’s credit card unit – will also invest in Thailand Post.
