Bakrie keeps Indonesia guessing

A lack of details about Bakrie's sale of its 35% stake in Bumi Resources suggests that the contest has barely started.

JakartaÆs financial community is buzzing with speculation and scratching its collective head with confusion as it tries to digest, interpret and, well, guess how the most significant equity deal in the world today will play out û right on its own doorstep.

On Saturday, Bakrie Brothers announced that it would sell its 35% stake in Bumi Resources to Northstar Pacific, an affiliate of the US-based Texas Pacific Group TPG, for $1.3 billion. The price-tag is based on BumiÆs...

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