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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
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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