Vivendi is looking to make an investment in two Indonesian TV operators, according to Bloomberg.
The report says that the investment targets are: a 50 percent stake in PT MCN Vision Networks, which controls the group’s listed Pay-TV & its high-speed Internet services, and a 10 percent holding in PT Media Nusantata Citra, which runs the FTA TV operations in the nation. Bloomberg says Vivendi has some $400 million to invest.
Both Indonesian companies are part of MNC Group. MNC Vision Networks is the biggest shareholder of Jakarta-listed PT MNC Sky Vision, one of Indonesia’s largest Pay-TV operators.
The core MNC Channel is packaged by Media Nusantara Citra, the largest television network in Indonesia. It is a 24-hour international cable channel providing news and information with variety and general entertainment in Indonesian based in Jakarta.
The broadcasts from MNC also cover Singapore and Malaysia.
According to analysts at investment bank Exane/BNPP, Vivendi/Canal+ is competing with Argyle Street Management, a Hong-Kong based fund, which has expressed interest in buying 49 percent of MCN Vision Network. Any deal would have to be accepted by Indonesian regulations.
The bank’s note stresses that Vivendi is declining to comment, “and therefore no transaction may take place”.