SINGAPORE, Jan 23 (Reuters): Singapore Telecommunications, South-East Asia's largest telecoms firm, and ridehailing-to-payments firm Grab Holdings Ltd, have each bought a 16.3% stake in PT Bank Fama International to pursue banking opportunities in Indonesia.
Indonesian conglomerate Elang Mahkota Teknologi Tbk (Emtek), the majority owner of the bank, said on Friday that it sold the stakes to units of Singtel and Grab to "accelerate and expand business growth" of Bank Fama.
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