Indonesian billionaire buying Telkomvision

Indonesian billionaire Chairul Tanjung has agreed to buy an 80 per cent stake in the country’s second-biggest pay-TV operator, Telkomvision, heating up competition in the emerging pay television market currently controlled by another tycoon, Harry Tanoesoedibjo.

Just 7 per cent of all Indonesia households have pay-TV, compared to India and China with 83 per cent and 54 per cent, respectively. The sector is expected to grow rapidly as Indonesia’s middle class expands.

CT Corp, an investment holding company controlled by Tanjung, is in talks with Indonesia’s biggest telecom firm, PT Telekomunikasi Indonesia (Telkom), to buy the stake in PT Indonusa Telemedia or Telkomvision, Telkom said in a statement.

The deal is expected to be worth less than $100 million..

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