“Izzi” and “Baltcom” resume merger talks

  • 2012-12-18

RIGA - The owners of telecommunication and cable television companies "Baltcom TV" and "Izzi" are holding talks on merging the two companies' operations, as "Baltcom TV" and "Izzi" public relations managers informed LETA.

In a joint statement to the media, the companies inform that the goal of the pending merger is to focus the companies' joint resources on further development of interactive services and introduction of new modern technologies. The companies have informed the Competition Council about their merger plans.

The structure and conditions of the deal are confidential, the statement informs.

The Competition Council's representative Inita Kabanova told the "Nozare.lv" business portal that "Baltcom TV" and "Izzi" had informed the Council about their merger plans on December 7, and that the Competition Council would have to take a decision on the matter by January 7 next year.

"If the case requires in-depth analysis, the decision will be taken within four months from the day the application was received," added Kabanova.

"Baltcom TV" and "Izzi" announced that they were planning to merge in the summer of 2010, but the deal was eventually called off as the parties were unable to reach agreement on merger conditions.

"Baltcom TV" belongs to "RPAX One S.A.", "Mackonar Impex Limited" and state-owned "Latvijas Valsts radio un televizijas centrs". "Izzi" belongs to the Luxembourgian company "Contaq Latvian Cable Holding S.a.r.l.".