Indonesian mine owner’s shares soar after Reuters story of Indian stake talks

Reuters broke news on May 26 that Coal India, the world’s largest coal miner, was in advanced talks to buy up to 40 percent of Indonesia`s Golden Energy Mines for as much as $1 billion, in what could be the biggest acquisition in Indonesia this year. After the sources-based story, shares in Dian Swastatika, which owns Golden Energy, reversed losses of 11 percent and rose as much as 9 percent. They surged another 19 percent the next day. The Wall Street Journal followed up several hours later while Bloomberg matched the story a day later. The story was also picked in prominent Indian and Indonesian media.