Firstly, this rumour has been in the market here ever since I begun working in Thailand in ’04.
So obviously any time I hear (or read) that MOF will sell it’s stake in TMB my bullshit radar goes off.

1. The MOF legally cannot sell below THB 3.80 per share
2. TMB is still a POS performance wise versus other commercial banks, and if it wasn’t for ING actually improving operations when they purchased their 30% stake, this bank would still be losing $$
3. I’ve read that ING has to sell its stake to pay back the Dutch Government for loans…utter bs (here’s looking at you Kao Hoon)
4. If you want to trade/invest in TMB realise that these silly rumours come around every 1-2 years, enjoy the ride, exit, let the price collapse again when the rumour dissipates and re-enter, it has been a fairly straight forward strategy in the past 10 years