Bank Mandiri Wants To Block Prima Bank?

JAKARTA - PT Bank Mandiri (Persero) Tbk (BMRI) is said to be in talks to acquire a sizeable stake in PT Prima Master Bank (Prima Bank).

In a report from DealStreetAsia quoted on Wednesday, August 10, several sources with knowledge of developments related to the news of the acquisition stated that they were in discussions regarding the acquisition. The Singapore-based media reported last month that Chinese fintech firm Jianpu Technology and an unnamed Indonesian lender are in separate early-stage discussions to acquire a minority stake in Bank Prima Master.

"While Jianpu is still being understood in the talks, the Bank Mandiri discussions are said to be moving faster," the source said in a DealStreetAsia report.

In Juanpu's prospectus on the SEC.gov page, Jianpu (Hongkong) Limited as of 2017 is a subsidiary of Jianpu Technology Inc (JT).

Meanwhile, JT is a subsidiary of Rong360 Inc. JT is currently listed on the New York Stock Exchange under the stock code JT.

Jianpu (Hongkong) Limited, itself in the country, has been operating by doing business at the fintech PT Scoring Credit Inclusive aka Digiscore. The existence of Rong360 Inc. This is confirmed by the Linkedin Digiscore page which states that the company is a subsidiary of Rong360, Jianpu Technology (NYSE: JT).

More than 2300 financial service providers currently utilize Rong360, Jianpu Technology's fintech platform.

"Bank Prima Master may also announce a rights issue if this agreement materializes, and Bank Mandiri is believed to be in discussions to subscribe to the issue," the source added.

Meanwhile, DealStreetAsia stated that Jianpu had not responded to DealstreetAsia's request for comment at the time of publication. Meanwhile, Bank Prima Master declined to comment on this report.

"Talks between Bank Prima Master and Bank Mandiri are currently in the middle to advanced stages, but no final decision has been made by either party," the source added.