Thai billionaire denies UBS role in Ping An deal

Thai billionaire Dhanin Chearavanont has reportedly denied Swiss bank UBS was the mystery lender behind his conglomerate Charoen Pokphand's US$9.4 billion purchase of a stake in China's second-largest insurer, Ping An Insurance.

Dhanin was quoted on late Saturday night by finance.qq.com, a finance portal operated by Tencent, as issuing the denial at the Boao Forum for Asia.

via Business feed http://www.scmp.com/business/companies/article/1209567/thai-billionaire-denies-ubs-role-ping-deal