Indonesia: Crony Bank, Anyone?

BCA's high-profile IPO may go begging

What happens when a government puts its biggest bank up for sale and no one's much interested? Cacuk Sudarijanto doesn't even want to think about it. As head of Indonesia's vast debt cleanup operation, he's responsible for unloading Bank of Central Asia later this month. The initial public offering will be Sudarijanto's first and the government's largest so far. It's supposed to be a symbol of Indonesia's imminent recovery. Instead, it could be a sign of the country's continuing troubles.

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