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Indonesia: Government abandons second merger plan in a month

By  |  May 15, 2014

Indonesia has reportedly decided to abandon plans to merge state-owned Perusahaan Gas Negara with Pertagas, the second scrapped merger by the government in a month.

Energy and Mineral Resources Minister Jero Wacik announced Wednesday that gas distributor merger would no longer take place due to its timing, which would coincide with the general and presidential elections this year. The official added that it may be best to leave such plans for the incoming administration.

According to reports, Indonesia had also decided to call off plans to merge state-owned Bank Mandiri with Bank Tabungan Negara for similar reasons.

Full content: The Jakarta Globe

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