JAKARTA (Yosefardi) – Shares of MNC Group on IDX dropped substantially this morning on broader market sentiment and acquisition report over television station ANTV.
At 11.08 am Jakarta time, Media Nusantara Citra dropped 4.1%, Global Mediacom lost 7.78%, and Bhakti Investama fell 5.05%.
Hary Tanoesudibjo, chairman of MNC Group, said MNC intends to acquire 100% stake in television operator PT Cakrawala Andalas Televisi, operator of ANTV, part of Visi Media Group, a business segment controlled by Bakrie Group.
“Price and other conditions have been finalizing, but as of now we have not yet signed such an agreement. MNC will not buy a minority stake. We have talked since early negotiation process to buy 100% stake in ANTV,” Hary said as quoted by Bisnis Indonesia this morning.
Hary declined to disclose the price of acquisition over ANTV, but one source told Bisnis Indonesia that the divestment of ANTV by Visi Media is valued for US$500 million. Global Mediacom, MNC’s parent company, currently has internal cash of Rp5 trillion.
While shares of Visi Media (VIVA) gained 1.2% this morning.