Bank Mandiri Mulls to Acquire 56% Shares of BII

PT Bank Mandiri Tbk is mulling to acquire 56.12% shares of PT Bank Internasional Indonesia Tbk (BII) as Temasek Holding is considering selling the shares.
An executive familiar with the plan said Bank Mandiri will compete with some foreign banks.
"Bank Mandiri has talks with Temasek Holding on the acquisition plan," he said last week.
Temasek Holdings of Singapore has become the controlling shareholder of BII and Bank Danamon through Fullerton Financial Holdings Pte Ltd.
Fullerton controls 68.09% shares of Danamon through Asia Financial and controls 56.13% shares of Danamon through Sorak Financial Holdings Pte. Ltd.
In mid December 2007 Temasek and Fullerton announce that they prefer to merge BII. Fullerton said if merger is not beneficial they sell the bank while merger study is being conducted.