BTS Group Holdings Public Company Limited (SET: BTS) has come out to clarify that it does not have any plan nor interest in purchasing shares in the electric bus business, Thai Smile Bus.
The news came after Energy Absolute Public Company Limited (SET: EA) postponed the payment date for its two Bill of Exchange earlier this week, raising concerns of its financial status.
There were rumors that EA is proposing to sell Thai Smile Bus to fund its two Bill of Exchange. However, Thai Smile Bus is owned by Ms. Kulpornpath Wongmajarapinya, CEO of the company, at 51% and Beyond Securities Public Company Limited (SET: BYD) at 49%. EA is holding approximately 20% in BYD through its subsidiary as a major shareholder.
Ms. Kulpornpath said earlier that the deal was unlikely as she and BYD did not receive any notice regarding the sales. Also, EA should not benefit from this transaction due to it holding only 20% in BYD that is holding 49% in Thai Smile Bus.
