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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