Minister supports state firms' plan to acquire Bumi

The Jakarta Post ,  Jakarta   |  Wed, 10/15/2008 4:46 PM  |  Business

State Minister for State Enterprises Sofyan Djalil supported the idea of state firms acquiring shares in PT Bumi Resources and PT Bayan Resources, saying both companies had solid growth potential.

"PT Bumi Resources is a promising company," Djalil said, referring to the country's largest coal producer owned by Bakrie Group, Tempointeraktif.com reported Wednesday.

"Let's just support (the purchase plan)," he said.

Djalil had previously declined to comment on the planned purchase amid rumors that talks had already taken place between himself and the executive boards of state companies PT Aneka Tambang and PT Tambang Batubara Bukit Asam on the proposed acquisitions.

Bakrie Group -- a conglomerate of companies controlled by the family of Coordinating Minister for the People's Welfare Aburizal Bakrie -- was recently accused of exacerbating the country's recent market plunge when it lost 41 percent of its total share value last week. (amr)

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