Published: 19.27 Europe/London, April 13, 2011

The leading Latvian cable company Baltkom has secured two strategic investors.

Quoted in DB, its CEO Petris Smidre said its new backers are Axa Private Equity and Resource Partners, with the transactions to be completed at the end of this month and more details to be announced in May.

Baltkom was originally expected to merge with Izzi, its closest cable rival, and a deal of some kind between the two may still go ahead.

Just last week both said they would be interested in buying each other and both now have strong financial backers.

A merger between Baltkom and Izzi would help the Latvian cable industry compete more effectively with the incumbent telco Lattelecom, which is backed by TeliaSonera and operates both a DTT and IPTV platform.