April 16, 2014 / 1:56 AM / in 4 years

INDONESIA PRESS-Government plans sale of 60.14 pct stake in BTN -Bisnis Indonesia

The government plans to sell a 60.14 percent stake in mortgage lender PT Bank Tabungan Negara to another state-controlled lender, most likely Bank Mandiri, a source said.

The plan is subject to shareholder approval at an extraordinary meeting on May 21. Bank Mandiri CEO Budi Gunadi Sadikin said his firm is waiting for guidance from shareholders. The government currently owns 6.35 billion shares in BTN. (Bisnis Indonesia)

Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Sunil Nair)

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