Malaysia Maybank to meet Indonesia regulator-paper

KUALA LUMPUR, Aug 8 (Reuters) - Malaysia's top lender Maybank (MBBM.KL: Quote, Profile, Research, Stock Buzz) may meet with Indonesian banking regulator early next week to discuss its stalled plan to gain control of Bank Internasional Indonesia (BII) (BNII.JK: Quote, Profile, Research, Stock Buzz), the Business Times reported on Friday, citing unnamed sources.

Malaysia's central bank revoked last month its approval of the $2.7 billion deal as it was concerned a new Indonesian takeover rule could lead to material losses for Maybank.

The rules require Maybank to cut its stake in BII by 20 percent in two years after the takeover.

Maybank chief executive officer Abdul Wahid Omar was keen to push for the acquisition, which was endorsed by both its board and shareholders, the Malaysian newspaper said.

Wahid is expected to lobby for Bapepam, the capital market watchdog, to give the Malaysian bank a longer period of up to five years to comply with the rules, it added, something the Indonesian regulator has hinted it may be willing to do.

Maybank was not immediately available for comment on the report.

Maybank shares sold off heavily when the acquisition was announced in March as investors and analysts believed it was overpaying.

(Reporting by Soo Ai Peng, editing by David Chance)