Canada’s Bank of Nova Scotia said it may lose the patient if it has to wait for too long for the government decision to sell almost half of Siam City Bank (SCIB) assets, which is estimated at around $600 million.

The Canadian bank is aiming to buy 47.6 percent stake in Thailand’s seventh biggest lender through its 49-percent-owned Thanachart Capital from the Bank of Thailand’s rescue arm Financial Institutions Development Fund (FIDF).

Analysts said Nova Scotia may face competition from SHBC and Barclays, but it still has the edge.

The economic downturn has encouraged the Thai government to wait for a better price, according to analysts.

SCRIB share price has doubled over the past three months following potential sale speculation.

A combination of Thanachart Bank and SCRIB would form Thailand’s fifth biggest bank with 770 billion baht ($23 billion) in terms of assets.

Thanachart’s main business is car loan hire purchase while SCRIB focuses on corporate and retail businesses. If they merged, their businesses will support each other, analysts said.

According to the sale schedule, FIDF will have to propose the plan to get an approval from the finance ministry, which is a lengthy process.

Analysts said buyers may withdraw from bidding if the deal is delay for over two years.