Reuters 31 March 2103
Shares in PT Visi Media Asia Tbk, controlled by the politically connected Bakrie family, jumped as much as 20.4 percent on Monday after the company received takeover proposal from Indonesia-based CT Corp.
Indonesia’s fifth-richest man Chairul Tanjung, through his holding vehicle CT Corp, proposed to buy a controlling stake in Visi Media valued at up to $1.8 billion in an all-cash deal that would give him the lion’s share of the TV advertising market in Southeast Asia’s biggest economy.
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