Reuters: Financial Services and Real Estate: Malaysia's Alliance up 3.8 pct on possible stake sale

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Malaysia's Alliance up 3.8 pct on possible stake sale Apr 2nd 2012, 01:45 KUALA LUMPUR, April 2 | Sun Apr 1, 2012 9:45pm EDT KUALA LUMPUR, April 2 (Reuters) - Shares in Malaysia's Alliance Financial Group rose as much as 3.8 percent on Monday after Singapore's DBS Bank won central bank approval to start talks with a unit of Singaporean state investor Temasek Holdings for a 14 percent stake in the smaller lender. By 0140 GMT, Alliance shares were up at 2.3 percent at 3.97 ringgit. The possible stake sale in Alliance is part of a larger deal where DBS, Southeast Asia's biggest bank has agreed to pay S$9.1 billion to Temasek for its stake in Indonesia's Danamon bank.

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