Dusit Thani wrangle continues

A takeover by Central Pattana Plc (CPN) would be considered a positive for Dusit Thani as shares of the SET-listed hospitality group soared significantly yesterday, amid the intensifying rift between its major shareholders, say analysts.

- NAREERAT WIRIYAPONG

Dusit shares jumped by as much as 22% to 12.10 baht in early trade yesterday, though the overall stock market was flat, before easing to 11.60 baht by midday.

The surge came a day after Chanin Donavanik, acting chairman of the Dusit board and son of the late Thanpuying Chanut Piyaoui, publicly accused his younger sisters of trying to help Central Group take over the company.

"We view CPN taking a controlling stake of Dusit as possible, and it could benefit the latter as Dusit has been rebounding since last year's reopening of Dusit Thani Bangkok," said Boonyakorn Amornsank, an analyst at Maybank Securities (Thailand).