BRI NEWS Latvia's mobile operator Bite to buy internet provider Baltcom

BRI NEWS

Latvia's mobile operator Bite to buy internet provider Baltcom

Xinhua

23:17, October 29, 2019

RIGA, Sept. 24 (Xinhua) -- Latvia's third-biggest mobile operator Bite is to purchase Baltcom, the second-biggest internet and digital television services provider in the Baltic country, Bite said on Tuesday.

VCG31N1177744008.jpg

Photo: VCG

The sum of the deal is not being disclosed.

The deal still needs to receive approval of the competition authority.

"The tendency in the telecoms market is to choose integrated services," said Bite head Kaspars Buls.

After the acquisition, Bite will provide not only mobile communications services but also internet and digital television to its customers, he noted.

Bite, which is controlled by the American global investment firm Providence Equity Partners, will buy Baltcom from the Luxembourg-based RPAX One. Providence already owns LNT and TV3, the two biggest private television channels in Latvia.

Bite last year generated sales of around 100 million euros and profit of around 15 million euros. Baltcom last year posted sales of 17 million euros and 1.9 million euros in loss.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue