Indonesia's Danamon shares rise to 17 year high post MUFG deal

Indonesia's Danamon shares rise to 17 year high post MUFG deal

The Danamon Bank logo is seen at its Tebet branch office in Jakarta, Indonesia, December 27, 2017. REUTERS/Beawiharta

Shares in PT Bank Danamon Indonesia soared to their highest level in more than 17 years after Japan’s Mitsubishi UFJ Financial Group (MUFG) said it planned to buy a majority stake in the country’s fifth-largest lender.

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