STV linked with double swoop for Starman, Bravocom

Baltic Business News, citing a report by Estonian daily Eesti Paevaleht, has reported that local telecoms firm STV has agreed a double deal worth EUR37 million (USD48.4 million) for cableco Starman and 3G licensee Bravocom Mobiil. The former is majority-owned (68%) by Bancroft Private Equity, which hired Rothschild to lead the stake sale last month, while the latter is owned by ProGroup Holding, which is based in Tallinn, but claims to hold other telecoms interests elsewhere in the country. The dual purchase is being bankrolled by US investment company Carlyle Group, and could be announced later today. Bravocom currently offers services under the ‘Go Network’ banner.