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Wednesday, April 28, 2010

Rumor on Indosiar acquisition refuted

Wednesday, 28/04/2010 00:00 WIB

Irvin Avriano A.
Bisnis Indonesia

Rumor on Indosiar acquisition refuted

JAKARTA: PT Televisi Transformasi Indonesia (Trans TV) and PT Indosiar Karya Media Tbk jointly refuted the rumor on acquisition of Indosiar by the Para Group, the holding firm of Trans TV, owned by businessman, Chairul Tandjung.

Commissioner of Trans TV Is-hadi SK stated the rumor is not true noting that there is no talk about acquisition so far. "There is no talk about acquisition at all," he said in Jakarta yesterday.

However, Ishadi added the possibility of Trans TV to acquire Indonesia in the future given that Trans TV also plans to develop its broadcast business.

Separately, Public Relation of PT Indosiar Karya Media Tbk Gufroni Sakaril declined the notion that there had been negotiation involving Indosiar and Trans TV so far.

The rumor on Indosiar acquisition by Para Group emerged at the bourse early this week and thus was responded by the mounting stock price of Indosiar. Thus, the IDKM stock code here was deemed having unusual market activity.

Formerly, Para Group acquired 40 percent shares of Carrefour and posed itself as the major shareholder of the retail company here.

However, despite the refusal of the rumor, the Indonesia Stock Exchange (IDX) imposed suspension sanction for Indosiar stocks due to the swelling stock price by 143.9 percent.

"IDX needs to suspend the exchange for cooling down since April 27, 2010," said head of IDX transaction supervision Hamdi Hassyar-baini in the IDX public expose yesterday.

Hamdi said the Indosiar stock price had unusual fluctuation due to the cumulative rise by IDR177 or 143.9 percent as from the closing on April 16, 2010 at IDR123 into IDR300 on April 26, 2010.

IDX compliance and transaction supervision director Uriep Budhi Prasetyo added the bourse authority has called for Indosiar clarification which stated the rumor of Indosiar acquisition by Para Group was not true.

Urip said the stock of PT Eatertainment International Tbk is potentially suspended as the stock price mounted at unusual price ratio in the past several weeks.

"Their stocks could be suspended if it still moves wildly following the UMA [unusual market activity] statues," he said.

Thus far, the bourse authority has waitd for the clarification of Eatertainment on the rumor that the company is on divestment negotiation process with Peter Sondakh-owned Rajawali Group. (Bisnis/iaa/bsi)



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