Thai Airways had right of first refusal to acquire shares in Tiger Airways

Thai Airways reportedly had the right of first refusal to acquire shares in Tiger Airways recently sold by major shareholders, Indigo Singapore Partners and Ryan Asia Ltd, and Tiger CEO, Tony Davis (Bangkok Post, 21-Aug-2010). Thai was reportedly interested in the offer and had requested time to proceed, but it would have taken months for the deal to be approved by the Thai Government. The Tiger Airways shareholders wanted to sell the shares as soon as possible to take advantage of the increase in the shares' value and expiry of the Singapore Stock Exchange's lock-up period.