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The Battle Behind BCA Divestment

Tuesday, September 18, 2001

The DPR has agreed that 51 percent of BCA shares can be sold in stages. This is aimed at local investors being able to buy into Indonesia's largest retail bank.

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THERE was a very fiery meeting last week at the House of Representatives (DPR) that went on late into the night. Several members of House Commission IX, in particular those from the Golkar Party and Reform factions, were seen in heated argument with both Boediono, Minister of Finance, and Laksamana Sukardi, State Minister of State Enterprises. They were arguing over what percentage of Bank Central Asia (BCA) shares should be sold. It is commo...

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