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Swedish holding MTG writes off intangible part in Ukraine’s Viasat

June 09, 2014, 13:12 UTC+3 STOCKHOLM
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STOCKHOLM, June 09. /ITAR-TASS/. Swedish holding Modern Times Group (MTG), which owns 50.00% in Russian satellite operator Raduga TV and 37.94% in CTC Media, has written down 100% of intangible assets arising from its 85% in Viastrong Holding AB, which operates the Viasat Ukraine satellite platform through Vision TV LCC, MTG said in a statement Monday.

“The decision has been made due to the uncertain economic outlook in Ukraine and the significant devaluation of the Ukrainian hryvnia currency. The operation, which is included in the group’s Pay-TV Emerging Markets segment, accounted for less than 1% of full year 2013 group net sales,” the holding said.

Viastrong Holding AB is a joint venture of MTG and the UK’s Strong Media Group.

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