Bite scraps tower sale

22 Mar 2013

Lithuania-based Bite Group has abandoned plans to sell its mobile tower subsidiaries in Lithuania and Latvia, after failing to reach an agreement with prospective buyers, according to a report by TMT Finance which cites unnamed bankers. ‘The process has now been cancelled,’ said one banker, adding: ‘The main reason is that there seems to have been a disparity between how much the market valued the assets at, and the price the seller was willing to part with them for.’ Bite’s tower units UAB TeleTower (Lithuania) and SIA TeleTower (Latvia) were created in 2009, at which date around 1,000 antenna sites and 250 towers in Lithuania and 550 antenna sites and 200 towers in Latvia were transferred to the respective subsidiaries.

Latvia, Lithuania, Bite Latvia, Bite Lithuania