JAKARTA (Reuters) – Disney is in talks to invest in a media subsidiary of Indonesian group Media Nusantara Citra (MNC), an MNC executive told Reuters.
“If the two companies can agree, Disney would invest $200 million for 10 years,” the executive said, asking not to be named due to the confidentiality of the talks.
He said a previous deal had been cancelled with Vivendi, that would have seen the French conglomerate spend more than $500 million in acquiring stakes in two affiliates of MNC’s PT Global Mediacom, Indonesia’s largest media company.
MNC founder Hary Tanoesoedibjo, a business partner of US President Donald Trump, declined to comment on whether the company was in talks with Disney.
He, however, said that negotiations with Vivendi were ongoing, and that Vivendi was now looking to buy a stake through its subsidiary Canal Plus in MNC Vision Networks (MVN), an affiliate of MNC Media Group.
Disney and Vivendi did not immediately respond to requests for comment.
(Reporting by Cindy Silviana; Editing by Edmund Blair and Emelia Sithole-Matarise)