Merger of Omnitel, BDC into TEO wins shareholder approval

19 Dec 2016

Shareholders have approved a decision to merge mobile operator Omnitel and IT services firm Baltic Data Center (BDC) into their fixed line parent TEO LT, in a move aimed at uniting Telia Company’s Lithuanian subsidiaries. After the reorganisation, Omnitel and BDC will cease their activities as legal entities. It was also decided at TEO LT’s extraordinary general meeting (EGM) of shareholders that pending the merger, the combined telecoms operator will adopt the name Telia Lietuva.

As previously reported by TeleGeography’s CommsUpdate, at the start of this year TEO LT completed the acquisition of Telia Company’s 100% stake in Omnitel for EUR220 million (USD230 million). As a result of the transaction, Telia continued to own 88.15% of shares in TEO, but also indirectly held 88.15% of Omnitel. In October the Supervisory Authority of the Bank of Lithuania approved the merger of Omnitel into TEO LT.

Lithuania, Omnitel, Telia Company, Telia Lietuva