Maybank aborts plan to sell WOM stake

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has aborted a plan to sell its 68.55 per cent stake in Indonesialisted PT Wahana Ottomitra Multiartha Tbk (WOM Finance) to PT Reliance Capital Management (RCM) for 673.77 billion rupiah (RM229.08 million) following certain conditions not being met. In a filing with Bursa Malaysia yesterday, Maybank said the proposed disposal had been terminated as certain conditions precedent to the conditional share purchase agreement, which were scheduled to be satisfied by April 30, have not been fulfilled.