Singapore's DBS Group (DBSM.SI), Southeast Asia's biggest bank, is to buy Indonesia's Bank Danamon (BDMN.JK) for $7.24 billion, in a deal that could stir nationalist opposition stoked by anxious local rivals.
"You're going to see some movements to halt this deal in the coming days," said a senior executive of a rival local bank, who asked not to be named because of what he called the sensitivity of the issue.
"This is about nationalism. We don't have to be afraid of Singapore ... We're going to raise this case to parliament, the central bank and (banking regulator) Bapepam," he added. Full story
Related:
Singapore bank takeover bid draws flak in Indonesia - Reuters
Singapore’s DBS Group Set To Swallow Indonesia's Bank Danamon - The Jakarta Globe
