Indonesian conglomerate MNC group has terminated plans to list its video streaming and broadband subsidiary in the US through a merger with blank-cheque company Malacca Straits Acquisition Company (MLAC).
PT Asia Vision Network, the holding company for MNC Group’s over-the-top (OTT) business and broadband and IPTV operations, and MLAC had announced plans to merge in March this year. The transaction, according to the pair, valued the combined entity at $573 million.
