Government mandates Krung Thai privatization

In a move, which will surprise almost no one, Merrill Lynch and Merrill Lynch Phatra have been officially awarded the mandate to privatize Krung Thai Bank (KTB). Right from the outset, the US investment bank has been regarded as a shoe-in for the deal since Viroj Nualkhkair the honoury chairman of its Thai operations is also President of the government-owned bank.