Indonesian regulator admits takeover mistakes

Author: | Published: 19 Nov 2008

The Indonesian regulator’s changes to its takeover law in June were ill thought-out. Companies and lawyers are struggling to apply the revisions, and even Bapepam (Badan Pengawas Pasar Modal) admits there are problems.

At IFLR’s Capital Markets Forum on Wednesday, Herbert Smith’s David Dawborn warned delegates of the selldown restrictions that face companies executing mandatory offers, but suggested that rectifying reforms may be on the cards.

“Speaking to people at Bapepam, they’re a...