Reuters
10 Mar 2008
Saeed Azhar
SINGAPORE (Reuters) - Banks from China, South Korea and Malaysia are circling Singapore state investor Temasek to buy its $800 million stake in Bank Internasional Indonesia (BII) BNII.JK in a deal that will reap huge profit for sovereign wealth fund.
But the rich valuation for Indonesia's sixth largest bank could make BII expensive for most bidders, which may prevent Temasek from securing a premium over the bank's current share price amid wobbly markets and a looming global economic slowdown, banking sources said.
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