TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Bakrie group revives plan to sell 10% shares in TV station
Change Size
The free-to-air TV station in Jakarta. (Courtesy of http://www.an.tv//-)
B
akrie Group has restarted its strategic plan to sell around 10 percent shares in its free-to-air television station ANTV, aiming to pocket Rp 1.3 trillion (US$98.75 million).
Visi Media Asia (Viva) as the holding company of Intermedia Capital, which operates ANTV, will divest the 10 percent shares it currently holds. The proceeds will be used to pay Viva's debts of Rp 3.21 trillion.
"The management is currently calculating and formulating the plan. We are currently in the discussion stage," Viva president director Anindya Novyan Bakrie told thejakartapost.com on Tuesday in Jakarta.
The plan has been officially revived three years after Bakrie failed in negotiating the share sales with MNC group.
"We will inform you soon after the purchase has been settled," Anindya said.
Despite the shares sale plan, Bakrie will maintain position as it controls 90 percent of shares in Intermedia Capital. Other than ANTV, it controls another free-to-air news TV station, TV One, and an online news portal, viva.co.id. (ags)
