Thai Bev shares rise after F&N gets bid for hospitality unit

SINGAPORE, Oct 10 (Reuters) - Shares of Thai Beverage PCL

rose as much as 11.5 percent on Wednesday after itstakeover target Fraser and Neave Ltd received a bidfor its hospitality and serviced residence business.

Companies linked to Thai billionaire CharoenSirivadhanabhakdi, including Thai Bev, own 33.5 percent of F&Nand have launched an offer to buy all of the Singapore group.

By 0329 GMT, Thai Bev was up nearly 9 percent at S$0.425 onvolume of 87.3 million shares traded, 2.7 times its averagedaily volume over the last five sessions.

Overseas Union Enterprise Ltd made a S$1.4 billion($1.14 billion) bid for F&N's hospitality and serviced residenceunit that was rebuffed by the Singapore conglomerate, a sourcewith knowledge of the matter said.

(Reporting by Charmian Kok)

((charmian.kok@thomsonreuters.com)(+65 6403 5666)(ReutersMessaging: charmian.kok.reuters.com@reuters.net))