Mid Europa hires Goldman Sachs for review of Bite?

13 Jun 2014

Private equity fund manager Mid Europa Partners has reportedly enlisted Goldman Sachs to carry out a strategic review of telecoms group Bite, which provides mobile services in Lithuania and Latvia, writes TMT Finance. TeleGeography notes that during the course of the last 18 months, Mid Europa has offloaded its stakes in T-Mobile Czech Republic (February 2014), SBB/Telemach Group (March 2013) and Orange Austria (January 2013). Divested Mid Europa assets include: Aster of Poland (sold in September 2011), MobiFon (Romania, March 2005) and Oskar Mobile (Czech Republic, March 2005). Bite reported group revenue and other income of EUR40.3 million (USD56.0 million) for the three months ended 31 March 2014, a decrease of 9% year-on-year, while adjusted EBITDA fell 16% to EUR10.5 million.

Latvia, Lithuania, Bite Latvia, Bite Lithuania