SCB X Plc (SCB), formerly known as Siam Commercial Bank, announced that it was ‘delaying’ the planned acquisition of Bitkub, Thailand’s leading digital asset exchange.
“Presently, the matter is in the process of due diligence and discussion with the regulatory bodies. Therefore, the completion period of the transaction is now delayed,” SCBX said in a statement to the Stock Exchange of Thailand.
The delay in the planned acquisition also comes as market talks have been floating that SCBX, the so-called mothership, that had announced its plans to acquire 50% of Bitkub for a staggering 17.85 billion baht, was looking to negotiate the price down or even walk out of the deal, after the crypto market meltdown over the past 3-months.
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