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Last Updated: Wednesday, 9 June, 2004, 08:32 GMT 09:32 UK
Thais ponder new path
Thai Prime Minister Thaksin Shinawatra
A Thai government-linked investment company may set up a trust fund to buy a stake in Liverpool.

The proposal by MFC Asset Management is the latest twist in the plan by prime minister Thaksin Shinawatra to buy into the Anfield club.

Thaksin's initial plans to raise money through a state lottery were dropped.

A spokesman for MFC said: "We're ready to explore the opportunity of setting up a special fund for the government's plan to invest in Liverpool."

MFC is 30% owned by Thailand's Ministry of Finance and the Government Savings Bank while the state-controlled Industrial Finance Corp. of Thailand owns another 24.9%.

The work is still going on, it will take time, but so far there is no new progress
Thai PM Thaksin Shinawatra

The proposal by MFC will need approval from the Thai government's Securities and Exchange Commission.

Thai government officials have cast doubts whether the deal will go through even though the offer was approved by Liverpool's board.

Thaksin said on Wednesday that no progress has been made in the deal, which is going through the process of due diligence to establish its financial viability.

The Thai PM said: "The work on due diligence is still going on. It will take time, but so far there is no new progress.

"The professionals are proceeding normally. When buying shares this process usually takes four to five months, so the rate we are proceeding at now is quite rapid."

Meanwhile, Thaksin denied speculation that he could also buy a stake in Everton if the Liverpool deal collapses.

When asked if he had any plans to buy into Liverpool's Merseyside rivals, Thaksin said: "No, one at a time."



SEE ALSO
Thais bullish on Reds deal
05 Jun 04  |  Liverpool
Birch wants Everton to move
02 Jun 04  |  Everton



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