The move expands CGates’ consumer base by about 7,000, taking its total to 270,000 across the country. Terms of the transaction were not disclosed.
CGates’ chief executive, Petras Kirdeika, said that the integration of Transteleservis would begin in the near future. He said that CGates would continue to consolidate smaller operators across the country, following last year’s acquisition of Remo TV and TPG.
CGates is itself being decoupled from Estonia’s Starman Group, its previous owner, following a deal at the end of last year that saw Finnish group Elisa take over Starman’s Estonian assets for €151 million.
Elisa’s acquisition of Starman from Polaris Invest and Com Holding, following the divestment to the latter of its majority stake by previous controlling shareholder East Capital Explorer, left CGates in the hands of the two investment groups. The pair said they would continue CGates’ strategy of consolidating the Lithuanian cable market.
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13 May 2021 @ 11:56:07 UTC