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Indonesia’s PT Visi Media Asia Tbk on Wednesday said it plans to remain a controlling shareholder of PT Intermedia Capital Tbk, and is considering options such as replacing foreign-denominated debt with rupiah debt.
The media company, part of the Bakrie Group conglomerate, made the statement after the Indonesia Stock Exchange asked it to address reports in local media that said Visi Media planned to sell part of its stake in Intermedia Capital.
On Monday, Bisnis Indonesia quoted Visi Media President Director Anindya Bakrie as saying the company plans to sell a stake of less than 10 percent in Intermedia Capital to repay debt and raise funds for expansion.
Visi Media owned 90 percent of Intermedia Capital, which operates the ANTV television channel, as of November 2015, Thomson Reuters data showed.
