FastTV to sell part of business

February 27, 2009 | 11:28 UK

Swedish IPTV operation FastTV has postponed the publication of its interim report while the company continues with negotiations to sell part of the business.

In a statement FastTV said the disposals were necessary in order to free up capital and achieve profitability.

Last November the Norwegian IPTV operator Lyse Tele AS became the second largest shareholder in FastTV by taking a 23.5% holding through a new share issue.