JAKARTA - PT MNC Vision Networks Tbk (IPTV) has completed the acquisition of a 60% stake in K-Vision. According to MNC Vision Networks President Director Ade Tjendra, K-Vision will serve as a strategic fit for the company to continue innovation.
“K-Vision is a major addition to our subscription-based portfolio and it provides a wider customer diversification in segment and geographical terms,” said Mr Tjendra in an official statement, Wednesday (28/8).
The acquisition, Mr Tjendra added, is consistent with MNC Vision Networks’ aim to become Indonesia’s largest and most comprehensive pay television provider. Through the corporate action, MNC Vision will receive around 1,200 additional subscribers every month.
Following the acquisition, MNC Vision Networks has grown more confident in its ability to control Indonesia’s pay television market share in both major cities and rural areas. Currently, the company controls 96% of the direct-to-home (DTH) pay television market share. (MS)