Market Chatter: DBS Group Denies Rumors of Indonesian Unit Merger with Bank Central Asia

MT Newswires10-30 11:34

DBS Group (SGX:D05) has denied rumors that its Indonesian subsidiary, PT Bank DBS Indonesia, will be merged with PT Bank Central Asia (IDX:BBCA), Straits Times reported Thursday, citing a DBS spokesperson.

The response came after social media posts in Indonesia claimed DBS Indonesia could be folded into BCA, with DBS Indonesia shareholders receiving newly issued BCA shares for their 99% stake, the report said.

BCA's president commissioner, Jahja Setiaatmadja, also denied the claims, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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