Published:
Foreign banks to be allowed up to 90% share in Indonesia local banks
But approval will be selective, according to the Deputy Governor of Bank Indonesia, Muliaman Hadad.
Speculations that DBS' plans to acquire local bank Danamon rise.
Here's more from Kim Eng Indonesia:
Muliaman Hadad, Deputy Governor of Bank Indonesia and newly elected chairman of the new financial services authority, stated that the central bank may allow foreign banks to own up to 90% stakes in commercial bank in Indonesia. Approval, however, will be very selective.
The statement might stir speculation that DBS can carry on with acquisition of Danamon as it initially planned. It might also suggest that the tender offer will be partial on a pro-rata basis.
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