Latvia, Legislation, Markets and Companies, Mergers and take-overs, Technology, Telecomunications

The Competition Council has permitted the acquisition as it will not pose any harm to the competition.

Baltcom belongs to Bite Latvija group.

As reported, the acquisition agreement was signed on August 12. The sum of the deal is confidential. The acquisition needed a permission of the Competition Council.

In 2019, Baltcom generated EUR 17.713 million in turnover, while the company's loss reached EUR 620,565. Baltcom was registered in 1991, and has a share capital of EUR 61.97 million. The company's sole owner is Bite Latvija.

Dautkom TV was registered in 1996, and has a share capital of EUR 284,000. It belonged to two individuals. In 2019 the company posted EUR 4.7 million in turnover and EUR 1.15 million in profit.