Hary Tanoesoedibjo with the 45th U.S President Donald Ttrump. (Photo: MNC)

JAKARTA (TheInsiderStories) — Indonesian tycoon Hary Tanoesoedibjo’s under largely integrated media company PT Global Mediacom Tbk (IDX: BMTR), is now being contested by two foreign investors.

As quoted by Bloomberg, a French company Vivendi SA and Hong Kong-based investment firm Argyle Street Management are interested in investing in Global Mediacom’ subsidiary.

Vivendi’s broadcasting arm Canal+ Group is in early discussions to spend more than US$400 million purchasing two units of Global Mediacom, or nearly half of PT MNC Vision Networks shares. MNC Vision owns majority shares of PT MNC Sky Vision Tbk (IDX: MSKY), Tanoesodibjo’s pay-tv business.

Other than that, Canal+ is also negotiating to acquire 10 percent shares of the free-to-air television business PT Media Nusantara Citra Tbk (IDX: MNCN).

Separately, Argyle Street also expressed interest in buying around 49 percent of MNC Vision. the private equity firm planned to spend more money than Vivendi, around $550 million for its initial buying stage, 25 percent of MNC Vision stake.

The investment will later be formed in new shares issuance in MNC Vision’ initial public offering planned, probably next year.

Vivendi SA is owned by French billionaire Vincent Ballore. It is a content media and communication company operating in France and the rest of Europe, the United States and other countries.

It has Universal Music Group, Canal+ Group, Havas, Gameloft, Vivendi Village, and New Initiatives. Meanwhile the Canal+ Group operation publishes and distributes premium and thematic pay-TV channels and free-to-air channels, also produces, sells, and distributes cinema films and TV series.

While, Argyle Street Management is a Hong Kong-based investment firm focusing on Asia. According to its website, Argyle Street manages approximately $1.4 billion worth of investments across and outside Asia.

Then, Global Mediacom subsidiaries interest in the purchase has made it’s shares rise by 4.55 percent to Rp322 at 1:35 p.m. local time. Meanwhile, MNC Sky Vision and Media Nusantara Citra shares jumped by 1.92 percent to Rp795 and 1.34 percent to Rp755 respectively.

Tanoesodibjo need cash to run his political party to face the 2019 election. His party Perindo, one of incumbent candidate Joko Widodo and Ma’ruf Amin supporter for the presidential election.

Writter by Staff Editor, Email: theinsiderstories@gmail.com

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