Latvian cable operator Baltkom has secured investment from AXA Private Equity and Resource Partners.
Baltkoms CEO Peteris Smidre said AXA and Resource Partners will buy a controlling interest in the company. The deal will complete later this month and the funding is likely to be invested in upgrading BaltkomÂs network and the addition of HD channels its digital TV platform.
Thomas Wilfling, managing director of AXA Private Equity, central and eastern Europe, said: ÂThis transaction is representative of the significant investment opportunities we are seeing in the region, particularly in technology assets.Â Using the resources, sector experience and networks of both AXA Private Equity and Resource Partners, we look forward to supporting the management team in its growth strategy for Baltkom.Â
Baltkom is the largest Latvian cable television operator, offering pay TV, internet and telephony services in Riga and in other Latvian cities. It provides a range of bundled offers and services over its hybrid fibre-coax and next-generation fibre optic IP networks.
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