FNN saga

FNN saga: FNN is down 0.2% at $8.57, not reacting much to news Thai Bev raised its F&N stake to 26.2% from 24.1%, with the latest volley likely to give the Thai co greater say in the Singapore conglomerate's response to the bid from Heineken to acquire F&N's APB. The announcement of the latest stake buy likely wasn't a surprise as ThaiBev was widely speculated to be the buyer of large blocks of shares last week. Another large block of shares changed hands around 9.53am . Phillip Securities notes the market is watching what ThaiBev's next move is going to be. Wonders, "are they just going to reject the whole thing? Try to achieve some synergies from their own operations with FNN?" Notes ThaiBev has been increasing its F&N stake a little bit at a time, and "we just have to see how the whole thing unfolds." APB is down 0.1% at $49.95 while ThaiBev is up 1.6% at $0.325.