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UPDATE 1-Japan's SMFG seeks Indonesia deal that may pave way for higher BTPN stake [Reuters (UK)]

SUMITOMO MITSUI FINANCIAL (SMFG)  More Company Research Source: Reuters
US:NYSE Investor Relations: smfg.co.jp/english/investor
PDF UPDATE 1-Japan's SMFG seeks Indonesia deal that may pave way for higher BTPN stake | Reuters Reuters Staff 3 Min Read * BTPN says assessing SMFG proposal to merge SMFG’s unit with it * SMFG has said it is keen to raise stake in BTPN to a majority * BTPN shares surge 25 pct on Monday (Adds comments of SMFG and BTPN executive) By Cindy Silviana and Taiga Uranaka JAKARTA/TOKYO, Jan 29 (Reuters) - Japan’s Sumitomo Mitsui Financial Group (SMFG), which is eyeing raising its stake to a majority in Indonesian lender BTPN, has proposed to merge its subsidiary in the Southeast Asian nation with the mid-sized bank. PT Bank Tabungan Pensiunan Nasional (BTPN) said on Monday it was conducting an assessment and technical preparation on a proposal by SMFG to merge with PT Bank Sumitomo Mitsui Indonesia. SMFG owns 40 percent of PT Bank Tabungan Pensiunan Nasional (BTPN) and the Japanese lender’s CEO said last month the company is keen to raise its stake to a majority in BTPN if Indonesian authorities [Read more]

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