Bakrie Group secures bank guarantee for World Cup rights

The Bakrie Group has secured a $10.8 million (€7.7 million) bank guarantee from Deutsche Bank that will allow the Indonesian conglomerate to complete its acquisition of rights for the 2014 Fifa World Cup in Brazil, according to the Jakarta Globe newspaper.

Bakrie Group’s media company, Visi Media Asia, will exploit the rights on its free-to-air channels, Cakrawala Andalas Televisi and TV One.

The newspaper added that the group had agreed to pay the ISM agency, which sells the rights in the country, $61.54 million to acquire the exclusive rights for the tournament.