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RCI - Exited Investments Starman

Starman Cable TV


www.starman.ee

Starman AS ("Starman") is the largest cable TV operator in Estonia. The company provides several bundled service packages offering "triple play" service: video programs, broadband internet connection and voice telephony. It is also involved in the provision of terrestrial digital video services. RCI bought a majority shareholding in Starman from the Swedish telecommunication group Telia in September 2000.

RCI and the local management team provided additional development capital to facilitate further growth of the customer base, expansion into retail broadband internet services, and retail telephony. The Company almost tripled the number of Cable TV subscribers, became a leader in the provision of internet services via cable in the main urban areas, and is rapidly expanding into retail fixed-line telephony.

In June 2005, RCI offered almost half of its shareholding in the Company in an IPO. The Company was listed on the Tallinn Stock Exchange. In September 2007, the remaining shares were sold to a consortium of financial buyers. RCI realized a 3.1x multiple on its originally invested capital.

 

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