Telkom anticipate MelOn Ownership Change

Ilustrasi (dok)

JAKARTA (IndoTelko) - PT Telkom Indonesia Tbk (Telkom) is anticipating the plan on ownership change of the music streaming platform MelOn in South Korea.

"I heard that KakaoTalk will acquire Loen Entertainment. We will anticipate if that happens," said the Telkom's Director of Innovation & Strategic Portfolio, Indra Utoyo to IndoTelko, yesterday.

As known that MelOn in Indonesia has its business wings along Telkom's business by forming MelOn. In South Korea, KakaoTalk has announced its intention to acquire MelOn with a value of approximately US $ 1.5 billion.

KakaoTalk plans to use MelOn as a tool to expand its messaging applications services. In Indonesia, MelOn was formed by Telkom and SK Telecom in December 2010 in which Telkom has a 51% stake with an investment of Rp100 billion at the time. The company initially provides Digital Content Exchange Hub (DCEH) services.

SK Telecom has about 60% of the Loen Entertainment shares which is assigned to the operation of online music distribution services belonging to SK Telecom since 2009.

"If we see from the release of MelOn means that there is a change in strategy of SK Planet on digital music portfolio. This possibility would apply globally. We are ready to take the rest of their shares in MelOn Indonesia if the price is right. Currently, MelOn service in Indonesia remains to run normally," he concluded.(es)