Published: 09.08 Europe/London, May 13, 2011
The leading Latvian cable operator Baltkom has undergone a change in ownership.
According to DB, its majority (70%) shareholder is now the Luxembourg-registered company RPAX ONE S.A, while the Cyprus-registered Mackonar Impex Ltd’s stake in the operator has fallen to 30%.
RPAX ONE’s investment in Baltkom is LTL14 million (€19.7 million) and Mackonar Impex’s LTL6 million.
Prior to the change in ownership, the majority shareholder in Baltkom was reported to be a company named New Life Holding.
Baltkom and its nearest competitor IZZI were until recently set to merge, having been given permission to do so by the country’s Competition Council.
However, the deal fell through and they subsequently declared their interest in buying each other.
There is as yet no indication as to how the change in ownership at Baltkom might affect any possible future deal between the two operators.