Vision+ and Malacca SPAC Merger: An Attempt to Rule Regional Market?
The MNC Group, owned by Hary Tanoesoedibjo, is reportedly in talks to merge its subscription-based, video-streaming platform, Vision+, with Malacca Straits Acquisition Co. As reported by Bloomberg on Thursday (2/25), the MNC Group is ready to include its equity into the transaction and will become the largest shareholder in the merged company.
Meanwhile, Malacca Straits is also negotiating with several investors, including Tiga Investments, owned by Singaporean investor Ray Zage, to raise US$50 million from the issuance of new shares. The merged company’s worth will expectedly reach US$600 million or around Rp 8.4 trillion. The transaction will be announced next month.