French media to telecommunications company Vivendi is nearing to acquire an initial 20 percent stake in PT MNC Vision Networks, a television subscription arm of Indonesian media company Media Nusantara Citra (MNC).

Vivendi said that it will eventually purchase a 50 percent stake in PT MNC Vision Networks worth up to $500 million.

Further, PT MNC Vision Networks also announced plans for a stock market listing this year.

In the fiscal year 2017, Vivendi generated about $14 billion in revenue.