REPUBLIKA.CO.ID, JAKARTA - State Enterprises minister Dahlan Iskan said state-owned banks could buy shares of Mutiara Bank if the price was reasonable and the transaction caused no issues in the future.

"If the price offered by the Deposit Insurance Corporation (LPS) is cheap, it is not impossible (for the state-owned banks to buy them)," he stated after a leadership meeting in his office, on Thursday.

However, he also advised the banks to consider the risks inherent in the transaction. 

If a state-owned bank was interested in buying shares of the Mutiara Bank it could start negotiations, he said. Yet, he added, the most important thing is that the decision must be made after a thorough study.

"I have no directives for the state-owned banks. It is a big deal and risky. If the price is low and the prospect is good, just go ahead," he added.

Previously, it had been reported that Mutiara Bank shares would be sold for 6.7 trillion USD, which is equal to the amount used to bail out the bank when it was facing collapse during the economic crisis of 2008.

According to the bailout package, Mutiara Bank in 2014 or six years after its bailout could sell its shares at the best price possible. Minister Dahlan said the boards of director of state-owned banks, such as Bank BRI, Bank BNI and Mandiri, had expressed their interest in buying shares of the Mutiara Bank.

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