MNC purchased additional stake in K-Vision
JAKARTA - PT MNC Vision Networks Tbk (IPTV) purchased an additional 20% stake in PT Digital Vision Nusantara, the operator of K-Vision. With the acquisition, IPTV is expanding its market into the lower middle-segment.
As quoted from the company's disclosure, Anthony C Kartawira, Corporate Secretary of PT MNC Vision Networks Tbk (IPTV) said the company now has an 80% stake in K-Vision. "The purchase of these shares is the company's strategy to penetrate the lower-middle market through cheaper services through Ku-band technology," he said.
In July 2019, IPTV acquired a 60% stake in K-Vision. With this acquisition, IPTV targets 200,000 new customers per month. (LK/AR)