Approval for FastTV rights issue
By Julian Clover
FastTV is to go ahead with its proposed rights issue after receiving expressions of interest from over 80% of its major shareholders. Outside investors will also join the issue that will raise around SEK 9 million (€840,000) for the Swedish IPTV provider.
The new proposals have also received approval from FastTV’s suppliers, which the company says is an indication of confidence in its ability to deliver IPTV services in the Nordic market.
“Through a number of measures have FastTV come to the point where the company’s management now sees the opportunity to show both growth and profitability. In the near future it should be possible to introduce more partners and more interesting shops,” the company said in a statement.
FastTV is expected to reach positive cashflow before the end of the year.