February 14, 2019 / 7:43 AM / 9 days ago

Vivendi to buy initial 20 percent stake in TV arm of Indonesia's MNC: MNC executive

JAKARTA (Reuters) - French media conglomerate Vivendi will finalise the purchase of an initial 20 percent stake in the television subscription arm of Indonesia’s Media Nusantara Citra (MNC) in March, a senior MNC executive said on Thursday.

David Fernando Audy, president director of MNC, also told reporters that Vivendi planned to eventually buy a 50 percent stake in PT MNC Vision Networks worth up to $500 million.

The television arm also has plans for an initial public offering this year, he said.

MNC is the holding company of Indonesian media mogul, Harry Tanoesoedibjo.

Reporting by Cindy Silviana, Writing by Ed Davies' Editing by Himani Sarkar

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