BNI Divestment Postponed

The Ministry of State Owned Enterprises (MSOE) suggested it would postpone the divestment of 3.1% or 473.89 million shares of PT Bank Negara Indonesia Tbk has the stock price is less than IDR2,050 per unit.
Initially the government has planned to sell the stocks to cover the state budget deficit of 2007.
The SOE Ministry Sofyan Djalil said the sale should be at the optimum price. "We may postpone the divestment as the market price is not optimum. We don't want to force the market to buy at the higher price."
He said that the sale also should be discussed with finance minister.
The Deputy of MSOE on Restructuring and Privatization Mahmuddin Yasin also has complained about the price. "It has not passed the divestment price."
Initially the government planned to sell the stock to cover the state budget deficit of IDR21.8 trillion.
The bank stock price closed at IDR1,900 per unit, unchanged from that on the previous day, while the divestment price is IDR2,050.