IZZI investor increases funding

20 Apr 2010

Latvian cable operator IZZI has reportedly benefitted from an additional investment of EUR2.625 million (USD3.5 million) from Contaq Latvia Cable Holding, according to Broadband TV News. The new funding, which brings Contaq’s total investment in the cableco to EUR27 million, is expected to be spent on enhancing capacity on the company’s network.

As noted in TeleGeography’s GlobalComms Database, in August 2008 IZZI attracted fresh investors when a group of four companies – Luxembourg-based Contaq Latvia Cable Holding, Argus Capital Group Limited, Syntaxis Capital and Tiroler Elektronik – bought out its then-parent, local firm Tella Capital.

Latvia, IZZI