The proposed merger of Latvia’s two leading cable operators Baltkom and Izzi now looks unlikely to happen. Instead, reports DB, quoting Izzi board chairman Helmuts Kols, Izzi might buy 100% of Baltkom.
Baltkom and Izzi first announced their intention to merge last summer and then agreed on the terms of a deal last November, valid until April 15.
The intention of the deal was to create a company that could compete more effectively with the incumbent telco Lattelecom, which besides being a leading provider of broadband services also operates IPTV and DTT platforms.
Baltkom and Izzi are both long-established companies, having been formed in 1991 and 1994 respectively.
The former is majority (99.92%) owned by New Life Holding AS, while the latter, backed at one time by Telia (TeliaSonera), is owned by European investors.
