REPUBLIKA.CO.ID, JAKARTA - Minister of State Owned Enterprises, Dahlan Iskan said that the proposed acquisition and merger between PT Perusahaan Gas Negara (PGN) and PT Pertagas was cancelled.

"They agreed to cooperate so merger is unnecessary between the two companies," Iskan said on Monday.

Initially, merger was considered as the companies ran business in the same sector while their unhealthy competition was contra productive to their business. Such competition has caused some project delays or cancellation, including in pipeline project connecting Cirebon (West Java) to Semarang (Central Java).

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