KPPU signaled Temasek had violated of the Anti-Monopoly and Unhealthy Business Competition Law No. 5/ 1999. So..Temasek will sell Temasek ???
Last year, the government has prepared IDR12 trillion funds to buy back a 40.77% stake in publicly listed PT Indosat controlled by Singapore Technologies Telemedia Limited (STT) through Indonesia Communications Limited (ICL).
The funds will be taken from the government's reserve funds, the internal cash of publicly listed PT Telekomunikasi Indonesia and other state enterprises.
On the other side, Kookmin Bank, South Korea's largest bank, has been interested in taking control over PT Bank International Indonesia Tbk if Temasek Holding of Sorak Financial consortium is willing to sell its control.
The consortium of Sorak Financial, lead by Temasek, controls 55.95% shares of BII. Kookmin owns 14.07% at the consortium. Temasek, in the meantime, controls 67.99% shares of Bank Danamon Indonesia Tbk.
The Singapore based bank has to take decision this year regarding with Bank Indonesia's single presence policy, in which an investor may not control more than one bank.
Friday, November 16, 2007
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