Don't hold your breath for Thai Airways sale

The Thai government has given the thumbs-up to the long-awaited sale of a 23% stake in Thai Airways, but investors are sceptical there will be an offering before the year is out.

The Thai government last week finally approved the sale of a 23% stake in Thai Airways International, but investors remain sceptical an offering is on the horizon.

Most people have got bored waiting for this transaction, says one analyst, adding that lead manager Credit Suisse First Boston was appointed over a year ago.

The government sold a 7% stake in Thai Airways via an initial public offering at 60 Bt a share in 1992 and has been talking about...

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