• Most Popular
  • Most Shared

Indonesia's Niaga, Lippo shares down after merger plan

Thu Dec 27, 2007 9:39pm EST

Stocks

   

JAKARTA, Dec 28 (Reuters) - Shares of Indonesia's PT Bank Niaga (BNGA.JK) and Bank Lippo LPBN.JK dropped 1.1 percent in opening trade on Friday after the announcement of a plan to merge both banks.

Lippo said late on Thursday Malaysian state investment arm Khazanah Nasional Bhd, which controls both banks, planned to merge the banks to meet Indonesia's central bank's regulations. (Reporting by Muhamad Al Azhari, editing by Sugita Katyal)



More from Reuters

Afghan insurgents kill CIA agents, Canadians

KABUL (Reuters) - Insurgents intensified their campaign against military targets and U.S.-led forces in Afghanistan, killing eight U.S. CIA agents at a base and four Canadian servicemen on patrol and a journalist accompanying them.

A security camera sits on a building in New York City March 6, 2008. REUTERS/Joshua Lott

Trial run in Times Square

Critics say the Sept. 11 trials will endanger America's most populated city. Will a New Year's Eve plan hold up as New York's security template?  Full Article 

People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article