PT MNC Vision Networks Tbk (IDX:IPTV) signed term sheet agreement to acquire majority stake in PT Link Net Tbk (IDX:LINK) from PT First Media Tbk (IDX:KBLV) and Asia Link Dewa Pte. Ltd. on December 2, 2019. The transaction is subject to due diligence, financing and signing of agreement between the parties. The parties will reach to further agreement within six months.

PT MNC Vision Networks Tbk (IDX:IPTV) cancelled the acquisition of majority stake in PT Link Net Tbk (IDX:LINK) from PT First Media Tbk (IDX:KBLV) and Asia Link Dewa Pte. Ltd. on May 5, 2020. MNC as well as Link Net's shareholders could not reach an agreement by the end of April 2020, which was the expiration of the agreement period,