JAKARTA Feb 8 Indonesia's politically
influential Bakrie family is in talks to sell its majority
interest in media unit PT Visi Media Asia to help
finance a plan to buy back coal assets from London-listed Bumi
Plc, three sources with direct knowledge of the deal
said on Friday.
The bidding process has been going on for the past two
months with local bidders, including MNC Group, CT Corp and PT
Elang Mahkota Teknologi, the sources said.
Visi Media CEO Erick Tohir told Reuters he was unaware of
the plan. Representatives of the Bakrie family and the MNC Group
were not immediately available for comment.
MNC Group, owned by tycoon Hary Tanoesoedibjo and the
country's biggest media company, appeared to be the leading
bidder for the deal, the sources said, adding the winner could
be announced over the next few days.
Bakrie is looking for a high valuation for its media unit at
$1.2 billion to $2 billion, though Visi Media's current market
capitalisation is only at $845 million, sources said.
The sources declined to be named because details had not yet
been made public. Visi has two national TV stations and a news
website. The Bakries have a majority stake.