Lithuanian telecom operator Teo has acquired 100% control of mobile operator Omnitel from TeliaSonera, the parent of both companies.
Teo and Omnitel are launching a new joint telecommunications business in Lithuania.
Teo acquired the shares in Omnitel for €220 million on a cash and debt free basis. SEB Bank and Danske Bank provided Teo with a loan of €150 million in equal instalments of €75 million. The structure of the shareholders of Teo will remain unchanged. TeliaSonera will continue to own 88.15%, while other shareholders will hold 11.85% of Teo and, indirectly, of Omnitel.
TeliaSonera revealed that it planned to combine the two companies last October to address the demand for converged fixed and mobile offerings. The company named a new combined management team for its Lithuanian unit in December.
DAZN poaches Ladbrokes-owner’s CEO in senior reshuffle #TopStoriesofTheWeek digitaltveurope.com/2021/01/11/daz…
16 January 2021 @ 10:00:00 UTC
ICYMI: @WarnerMedia rejigs Lat Am with network president and originals chief exiting digitaltveurope.com/2021/01/15/war… https://t.co/IG9L87W13m
15 January 2021 @ 20:00:00 UTC
ICYMI: @peacockTV expected to hit 52 million subs by 2024 digitaltveurope.com/2021/01/15/pea… https://t.co/9zii6y3goV
15 January 2021 @ 19:00:01 UTC
Outgoing US president Trump adds Xiaomi to DoD blacklist digitaltveurope.com/2021/01/15/out… https://t.co/ORDj0JVQvY
15 January 2021 @ 18:00:00 UTC
Firstlight Media teams up with NPAW digitaltveurope.com/2021/01/15/fir… https://t.co/dzGWiC4KdH
15 January 2021 @ 17:00:00 UTC