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Excelitas Technologies Corp. - X-Cite Vitae LB 11/24

Croatian CATV Firm Gets $6 Million US Funding

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ZAGREB, Oct. 30 -- Two US equity funds have invested $6 million in a Croatian cable television network that eventually plans to challenge the national fixed telephone monopoly once the market liberalizes in 2003. The US-government-funded Small Enterprise Assistance Fund and private regional fund Southeast Europe Equity Fund, managed by George Soros, boosted the capital of a local cable TV operator, Digital City Media (DCM), with $3 million each. DCM has some 40,000 customers in three major Croatian cities -- Zagreb, Split and Osijek -- and plans to expand with a new broadband cable network to...Read full article

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    Published: October 2001
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