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WALT DISNEY COMPANY (THE)

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Indonesia media executive says company talking to Disney; tycoon founder denies

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06/25/2019 | 02:27pm EDT
FILE PHOTO: Indonesian billionaire Hary Tanoesoedibjo speaks on

JAKARTA (Reuters) - The director of the investment arm of Indonesian media group Media Nusantara Citra (MNC) said on Tuesday the group was in talks with Walt Disney Co on a possible investment by the U.S. media conglomerate, but the group's owner Hary Tanoesoedibjo denied talks were taking place.

MNC Investama Director Darma Putra said at an event organised by MNC that Disney was interested in investing in one of the group's affiliates.

“Hopefully, we will get another (equity investor) soon. We are in talks with Disney. If it’s successful, it will earn $200 million in the next 10 years,” Putra told an audience that included reporters.

MNC Group founder and chairman Hary Tanoesoedibjo, a business partner of U.S. president Donald Trump, said no talks were taking place with Disney. MNC Group said last year it was building two luxury resorts in Indonesia that will be managed by a subsidiary of the Trump Organization.He told Reuters by telephone there were "clearly no talks with Disney", adding he would know since he was the “number one guy at MNC”.

Tanoesoedibjo said that negotiations with Vivendi were ongoing and the French company as now looking to buy a stake through its subsidiary Canal Plus in MNC Vision Networks (MVN), an affiliate of MNC.

Tanoesoedibjo also said MVN was planning a public listing to attract investors.

The Indonesian tycoon is known for his flamboyant business style and has previously said he was inspired by Trump.

Disney and Vivendi did not immediately respond to requests for comment.

(Reporting by Cindy Silviana; Editing by Edmund Blair/Emelia Sithole-Matarise/Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
MEDIA NUSANTARA CITRA TBK PT End-of-day quote.
VIVENDI -0.32% 24.86 Real-time Quote.16.96%
WALT DISNEY COMPANY (THE) 0.12% 145.06 Delayed Quote.32.29%
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Financials (USD)
Sales 2019 73 240 M
EBIT 2019 16 243 M
Net income 2019 11 493 M
Debt 2019 33 136 M
Yield 2019 1,22%
P/E ratio 2019 21,0x
P/E ratio 2020 25,0x
EV / Sales2019 4,02x
EV / Sales2020 3,42x
Capitalization 261 B
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Number of Analysts 29
Average target price 150  $
Last Close Price 145  $
Spread / Highest target 24,1%
Spread / Average Target 3,23%
Spread / Lowest Target -28,3%
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Robert A. Iger Chairman & Chief Executive Officer
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
John S. Chen Independent Director
Aylwin B. Lewis Independent Director
Fred H. Langhammer Independent Director
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