Global Mediacom block trade

Global Mediacom block raises $200 million

Global Mediacom's controlling shareholder offloads $200 million worth of shares in the Indonesian media group.
Hary Tanoesoedibjo
Hary Tanoesoedibjo

Global Mediacom’s controlling shareholder sold a $200 million block in the company late last week in an apparent bid to bolster his political ambitions.

The stake was offloaded by Winfly, a company that is described as being “beneficially connected with” Indonesian tycoon Hary Tanoesoedibjo, president director of Global Mediacom, who controls the company through a 51% stake owned by his investment firm, Bhakti Investama.

Tanoesoedibjo reportedly joined the newly established National Democratic Party earlier this year as chairman of the party’s advisory body, and has since been raising cash through a number of sales.

MNC Skyvision, an Indonesian pay-TV operator owned by Mediacom, raised...

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