Shares of BankThai (BT) were briefly suspended on Wednesday following newspapers report of Tisco Bank (TISC) planned to acquire a 42 percent in its stake.

Tisco shares rose sharply following the suspension and its official denial the report in the Thai-language Post Today newspaper.

BankThai shares were up sharply 18.8 percent at 1.58 baht before the halt, their highest since December 2007. Tisco Bank fell 2.87 percent to 20.30 baht.