Vivendi-owned pay TV outfit Canal+ is in competition with investment outfit Argyle Street Management to secure a stake in Indonesian telco PT Global Mediacom’s TV operations, according to a Bloomberg report.
According to Bloomberg, citing unnamed sources, Canal+ is in early stage talks to buy about half of pay TV and high-speed internet unit PT MNC Vision Networks, and about 10% of free-to-air TV arm PT Media Nusantrara Citra for about US$400 million.
Hong Kong based investment outfit Argyle Street Management has separately expressed interest in a 49% stake in MNC Vision Networks, according to Bloomberg, having earlier proposed buying 25% of the company in a deal that valued it at US$550 million, ahead of possibly acquiring more in an IPO expected to take place next year.
PT Media Nusantrara Citra, created in 1997, owns four free-to-air channels as well as providing around 18 channels for the pay TV operation.
PT MNC Vision was launched 25 years ago as Indovision, with a DTH pay TV service, but was rebranded at the end of last year. The service includes HD services HBO HD, Fox Movies Premium HD, National Geographic Channel HD, Disney XD HD and Fox Sports 3 HD.