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'PM wants Citic stopped'.
Jul. 2--Prachai Leophairatana, the founder of Thai Petrochemical Industry Plc, charged yesterday that Prime Minister Thaksin Shinawatra's current visit to China would include a lobbying effort with his Chinese counterparts to stop a counterbid for TPI.
The China International Trust and Investment Corp, a Chinese state enterprise, has launched a bid to takeover TPI by buying shares held by creditors and restructuring the firm's outstanding debt.
The Central Bankruptcy Court will rule on Monday on whether Citic should be allowed to move forward with due diligence at TPI.
Mr Prachai, however, said the government was opposed to outside interference ...
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Source: HighBeam Research, 'PM wants Citic stopped'.