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.
Indosiar, SCTV to merge before June
JAKARTA: The planned merger of SCTV group, comprised of PT Surya Citra Televisi (SCMA) and PT Elang Mahkota Teknologi (EMTK), and PT Indosiar Karya Mandiri (Indosiar) will be completed before June
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
J
AKARTA: The planned merger of SCTV group, comprised of PT Surya Citra Televisi (SCMA) and PT Elang Mahkota Teknologi (EMTK), and PT Indosiar Karya Mandiri (Indosiar) will be completed before June.
SCMA president Fofo Sariaaatmadja said in a report to the Indonesian Stock Exchange (IDX) on Monday that the corporate action would be concluded by June at latest and would use financial reports as of Dec. 31, 2010.
Fofo said SCMA would be the surviving company.
All concerned companies were said to be in careful discussions to find the best management structure so the business transaction would be effective and efficient. Due diligence has yet to start, according to the companies.
The companies also said that the merger could be cancelled if it was not commercially viable or did not get approvals from related agencies. — JP
