China Knowledge
13 Mar 2008
Mar. 13, 2008 (China Knowledge) - Bank of China<601988><3988>, the second-largest bank in the country, is one of the three short-listed bidders to buy Temasek Holdings Pte Ltd's stake in Indonesia's sixth-largest bank, sources reported.
The Singaporean state-owned investment company, which holds the stake through its 75% ownership in Sorak Financial Holding Ltd, which owns a 55.85% stake in the Indonesian lender, said last month it plans to sell its stake in PT Bank International Indonesia, driven by an Indonesian law that caps foreign controlling ownership in no more than one domestic bank.
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