DBS denies rumour of Indonesian subsidiary merging into BCA

DBS denied a rumour about merging its Indonesian subsidiary into Bank Central Asia, The Business Times reports. According to The Straits Times, social media posts claimed BCA would survive and DBS Indonesia shareholders would receive newly issued BCA shares. These were rumoured terms, not an announced deal. The Business Times reported BCA shares rose more than 7% on Oct. 28 before retreating by noon the following day.