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Latest Satellite News Discussion, New Approval for FastTV rights issue at General Satellite News forum; Approval for FastTV rights issue By Julian Clover FastTV is to go ahead with its proposed rights issue after receiving ...

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New Approval for FastTV rights issue
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Thumbs up New Approval for FastTV rights issue - 29-May-2009, 12:10

Approval for FastTV rights issue

By Julian Clover



FastTV is to go ahead with its proposed rights issue after receiving expressions of interest from over 80% of its major shareholders. Outside investors will also join the issue that will raise around SEK 9 million (840,000) for the Swedish IPTV provider.

The new proposals have also received approval from FastTVs suppliers, which the company says is an indication of confidence in its ability to deliver IPTV services in the Nordic market.

Through a number of measures have FastTV come to the point where the companys management now sees the opportunity to show both growth and profitability. In the near future it should be possible to introduce more partners and more interesting shops, the company said in a statement.
FastTV is expected to reach positive cashflow before the end of the year.


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