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Citi 'positive' on OCBC's reported pullout of Bank Permata bidding

Move seen to give boost to stock price as analysts expect significant challenges to Indonesian M&A

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Published Fri, Nov 15, 2019 · 09:50 PM

    Singapore

    CITI Investment Research sees a "positive" impact on shares of OCBC after Singapore's second-largest bank reportedly ended its run to make an offer for Bank Permata.

    "We see this as positive for the stock as we had previously opined that an Indonesia M&A (merger and acquisition) faces significant challenges," said Citi analyst Robert Kong in a client note on Friday.

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