Lithuanian cableco Cgates being sold, report says

24 Nov 2014

Lithuanian cable network operator Cgates, which serves around 180,000 customers in a number of cities including Vilnius, Alytus, Marijampole, Vilkaviskis, Silute, Lentvaris and Kaunas, is being sold in a deal that could be worth up to LTL140 million (USD50.1 million), reports local news source Verslo Zinios, citing unnamed sources. The buyer of Cgates is not yet known, although around five companies are reportedly interested in the operator. The completion of the transaction is expected to take place in 2015, subject to antitrust approval. TeleGeography’s GlobalComms Database states that Cgates is Lithuania’s second largest fixed broadband operator by subscribers, with around 63,000 cable and fibre-based internet customers at the end of September 2014. The operator was owned by Sweden’s Tele2 until early 2011, when it was sold to a number of shareholders, including Advanced Broadband, SEB Venture Capital and Skandinaviska Enskilda Bankens Pensionsstiftelse (SEB Stiftelsen), for approximately SEK40 million (USD5.6 million).

Lithuania, Cgates