Lithuania


East Capital to sell Starman Group to Providence Equity

Nordic investment group East Capital Explorer has struck a deal to sell its entire 63% in pan-Baltic cable operation Starman Group to Providence Equity. The agreement in principle would see East Capital Explorer sell its stake in Starman for an upfront payment of €81 million in cash with the potential of an additional earn-out of […]

MTG turns in solid result despite Russian reversal

Modern Times Group has delivered fourth quarter profits in line with analyst forecasts after a tough year that has seen the forced sale of its stake in Russian broadcaster CTC Media and the sale of its Russian and central and eastern European pay TV businesses. MTG posted net sales of SEK4.54 billion (€487 million) for […]

TeliaSonera sees TV base grow

Nordic telco TeliaSonera saw its Swedish and international TV numbers edge up in the final quarter of last year, with TV customers in Sweden rising from 713,000 to 730,000 quarter-on-quarter, and international TV subscribers rising from 890,000 to 900,000. Only in Finland did TeliaSonera see a decline in its TV base, with numbers falling from […]

Teo takes control of Omnitel

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 […]

Lithuania’s Teo names new converged management team

TeliaSonera-owned Lithuanian service provider Teo has named a new joint management team for Teo and mobile sister service provider Omnitel as it seeks to develop converged offerings spanning mobile and fixed communications, internet, TV and IT services. As previously announced in October, Kęstutis Šliužas will become the CEO of the two companies from January 1. […]

Lattelecom passes TV subscriber milestone

Latvian telco Lattelecom has passed the milestone of 200,000 TV customers. The 200,000th customer, Kristers Grečs, received a free TV from Lattelecom chairman Juris Gulbis at Lattelecom’s customer service centre in Liepājā, the country’s third largest city. Lattelecom’s owner TeliaSonera controls the leading telcos in all three Baltic States. In Estonia, Elion reported 171,000 TV customers […]

TeliaSonera sees modest TV growth

TeliaSonera saw respectable growth in its pay TV numbers across its domestic Swedish market and most other European markets in the quarter to September, but the group’s overall performance was dragged down by its Eurasian operations, and in particular by price pressure on its operation in Kazakhstan. In Sweden, TeliaSonera added a net 4,000 TV […]

Lithuania’s Teo to acquire mobile sister company Omnitel

Nordic telco TeliaSonera is combining its two Lithuanian services, fixed-line operator Teo and mobile player Omnitel, in a single company that TeliaSonera says will strengthen its core business in the Nordic and Baltic markets. Teo will acquire Omnitel for €220 million on a cash and debt-free basis, with the united company expected to generate annual […]

Teo names new business development chief

TeliaSonera-owned Lithuanian service provider Teo has named Mantas Goštautas as to the new position of head of business development. Goštautas will be charged with finding ways of increasing Teo’s revenue streams and opening up new business opportunities, responsible for identifying and developing new market segments and opportunities. He previously worked for UK-based consultancy Hodgart Associates. […]

TeliaSonera makes senior regulatory appointment

Nordic service provider TeliaSonera has named Lithuanian subsidiary Teo’s head of legal affairs and IT Eglé Gudelyté-Harvey to take charge of regulatory affairs, including broadband regulation. Gudelyté-Harvey’s role will include monitoring, analysing and explaining developments in the telecom legal and regulatory framework, provision of legal advice, and active cooperation with the European Union authorities The […]