Malaysia's CIMB Group Holdings Bhd. (1023.KU) is set to acquire General Electric Co.'s (GE) 25% stake in Thailand's Bank of Ayudhya PCL (BAY.TH), Kaohoon, a Thai-language daily newspaper, reported Monday, citing a source.

CIMB Group is negotiating the price, it said, adding that the Malaysian bank plans to merge its local unit, CIMB Thai Bank PCL (CIMBT.TH), with Bank of Ayudhya, Thailand's fifth largest lender by assets.

Newspaper website: www.kaohoon.com

Write to djnews.bangkok@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires