HSBC , Europe's biggest bank, dropped out of the race to buy a 42 percent stake in Bank Internasional Indonesia.
Singapore state investor Temasek moved closer to choosing a buyer who may have to pay over $1 billion.
The battle is now between Malayan Banking Bhd and Bank of China for Indonesia's sixth-biggest lender, while South Korea's Kookmin has also joined the race as a third bidder
Tuesday, March 25, 2008
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