Latvian cableco secures more funding

By Chris Dziadul
April 19, 2010 11.09 UK

Contaq Latvian Participation has raised its investment in the Latvian cable operator Izzi by 2.625 million to 27 million. According to DB, the money will be directed mostly to existing capacity.

Contaq is one of four investors in Izzi, the others being Argus Capital Group, Syntaxis Capital and Tiroler Elekronik.

Izzi had an estimated turnover of 12 million in 2009. It ended the year with 125,000 subscribers, and the number receiving its digital service tripled during the year.