... any bank wishes to conduct a corporate action will certainly ask for BI`s permission..."Jakarta (ANTARA News) - Bank Indonesia will study the planned sale of HSBC`s shares in PT Bank Ekonomi Raharja Tbk. worth US$670 million, Agus Martowardojo said.
"I could tell you that any bank wishes to conduct a corporate action will certainly ask for BI`s permission and BI will study it," the central bank`s governor said before a working meeting with the House of Representatives` Budget Committee to discuss the draft revised 2013 budget here on Monday.
As has been reported HSBC Holdings Plc. is considering to sell 99 percent of its shares in PT Bank Ekonomi Raharja Tbk as part of efforts to streamline its businesses.
It said it is considering a strategic option for the sale of the shares after the Indonesia Stock Exchange asked Ekonomi to clarify its position with regard to market speculations.l
However if later the option to sell Bank Ekonomi shares is taken the proceeds would still be invested in Indonesia which remains one of the 22 HSBC priority markets.
HSBC bought 88.9 percent of Bank Ekonomi shares worth US$607.5 million in October 2008 and the London-based bank bought another ten percent later in August 2009 at a cost of US$71.6 million.
The bank has sold and closed more than 50 of its businesses considered not profitable in the past two years.
(Reporting by Citro Atmoko/C005/H-YH/O001)
Editor: Priyambodo RH
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