Estonia, EU – Baltic States, Investments, Markets and Companies, Telecomunications

Xalto CDO II B.V, subsidiary of Bancroft Private Equity, which focuses on East European companies, acquired a majority stake in Starman in September 2007, when the company's' shares were still listed at the Tallinn Stock Exchange. According to the Business Registry data, the Dutch own an almost 68% stake in the telecoms firm.

"Funds that invested in Starman via Xalto have done so with the typical for financial investors 5-year timeline. The five years is over thus autumn and thus they are really looking around for a possible buyer," said one of the owners and board chairman of Starman AS Peeter Kern. He didn’t comment on whether he would like to increase his 20% stake in Starman.

When Starman delisted its shares from the Tallinn stock exchange in autumn of 2009, the company's value was evaluated at 75 million euros. This is how big its value could be today too, meaning that the price of a 70% stake would be a maximum of 50 million euros.