Indosiar advances 1.82% on TV5 acquisition

JAKARTA: PT Indosiar Karya Media Tbk (IDKM), parent of Indosiar TV, rose 1.82% to IDR560 per share at closing today, following the acquisition news by ABC Development Corp."I heard the information this morning. But, it didn't impact Indosiar stocks because
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 16 Desember 2010  |  09:24 WIB

JAKARTA: PT Indosiar Karya Media Tbk (IDKM), parent of Indosiar TV, rose 1.82% to IDR560 per share at closing today, following the acquisition news by ABC Development Corp."I heard the information this morning. But, it didn't impact Indosiar stocks because the overall market was down, dragged down by foreign sell-off on bluechip stocks," Aldo Perkasa, a fund manager at PT Danareksa Investment Management told Bisnis today.According to him, it also depends on the acquisition price. "I think the acquisition could bring synergies between Indosiar and TV5 such as contents exchange." ABC Development Corp, which runs TV5, Philippine, is buying into Indosiar, a publicly-listed national television station in Indonesia majority owned by Anthoni Salim, Chairman of First Pacific Co Ltd.We will partner with Indosiar. This will be an investment by TV5, said President Ray Espinosa at a press briefing yesterday as reported by abs-cbnnews.com.However, he did not disclose further details but said this was going to take place after TV5 has commenced its international business, which means expanding its reach as far as Europe, North America, Middle East, and Japan.For our global business, we will form an international company via a joint venture with PLDT [Philippine Long Distance Telephone Co. This expands our reach in the international side. We plan to launch this in the first quarter of next year. Also, TV5 will be present in the region via an investment in Indosiar, said Espinosa.Benny Santoso, executive of Salim Group, hasn't replied a confirmation sent by Bisnis via short message service."I am in a middle of meeting," he said when confirmed about the news.Indosiar Karya Media Corporate Secretary Stelly Maria said that she already read the news. "We haven't been informed by our shareholders," she said.Salim family controls 27.24% holding in Indosiar Karya Media, parent of Indosiar TV, via PT Prima Visualindo. Citibank Singapore holds 8.5%, PT Dinamika Usaha Jaya holds 5.09%, and public investors own 59.17%. (wiw)

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