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Published on September 26, 2007

Reuters reported Adkinson Securities would sell the licence to Merrill Lynch for Bt100 million.

Adkinson Securities CEO Sadawut Taechaubol would neither confirm nor deny the story.

He said any information would be disclosed through the Stock Exchange of Thailand. It is rumoured the deal will be announced next month.

Merrill Lynch sold its stake in Merrill Lynch Phatra Securities several years ago. The broker was renamed Phatra Securities.

Phatra CEO Suvit Mapaisansin said he was unaware of any deal but that he knew Merrill Lynch was interested in entering the fixed-income business. Phatra was unable to help it with this.

Nevertheless, the firms will continue to cooperate, he said. Phatra has an "executive-partner" deal with Merrill Lynch that expires at year-end. However, the deal requires six months' notice of termination, he added.

A source at Adkinson said that if the Apex licence were sold, the proceeds would be booked this year, which would result in an annual net profit.

 Siriporn Chanjindamanee

 The Nation