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So... What's new?
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Think Asset-Business-Structure (ABS)
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In the short term, this is not shareholder value accreditive due to the permium paid for Danamon.
It's share price may face downward pressure over the next few months.
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Well..
Indonesia central bank says no decision on DBS bid for Danamon
Bank Indonesia hasn’t decided on the proposed acquisition of PT Bank Danamon Indonesia by DBS Group Holdings, the central bank said today, denying a report the deal had been approved.
The Wall Street Journal reported on April 13 that Southeast Asia’s largest lender got approval to buy as much as 40% of Danamon and will be allowed to build a majority stake later if it meets corporate governance and financial health standards. No decision has been made, Bank Indonesia spokesman Difi Johansyah said in a text message today.
http://www.theedgesingapore.com/the-dail...namon.html
(13-04-2013, 06:15 PM)CityFarmer Wrote: Indonesia is an important market...
Bank Indonesia approves DBS-Danamon deal: Sources
SINGAPORE – Bank Indonesia has approved DBS’ acquisition of Bank Danamon, with an initial stake of 40 per cent, the Dow Jones news agency reported on Friday, citing unidentified sources.
Legal documentation for the acquisition is likely to be completed in May, the sources said.
DBS will likely be allowed to acquire more shares in future, the sources said.
http://www.todayonline.com/business/bank...al-sources
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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False alarm. Probably more of Indo end playing punk with different sources trying to exert their authority. Don't expect them to let DBS come in so easily.
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Technical charts show price weakness for DBS. Likely to face selling pressure unless unexpected positive news announced.
(Vested)
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