Bangkok Post – Gulf quashes KBank takeover rumour as stake increases

Gulf Energy Development clarified that it has no plans to take over Kasikornbank (KBank), attributing its recent increased shareholding in the bank solely to its pursuit of investment gains.

“Gulf’s primary motive for increasing its stake in the bank is portfolio investment, with no intention of a takeover,” chief executive Sarath Ratanavadi told the Bangkok Post.

Gulf, one of Thailand’s largest private power…