TEO and Omnitel become Telia

2 Feb 2017

Lithuanian mobile operator Omnitel and IT services firm Baltic Data Center (BDC) have completed their merger into fixed line parent TEO LT, in a move aimed at uniting Telia Company’s Lithuanian subsidiaries. The combined entity has adopted the name Telia Lietuva and claims to be the country’s first integrated telecoms company providing fixed, mobile, IT and TV services ‘as a one-stop shop’. Commenting on the completion of the integration, the firm’s CEO Kestutis Sliuzas said: ‘A year-long merger of companies into Telia means more than the conclusion of integration of companies. This is the beginning of consolidation of technologies which is necessary for the development of future services. We join everything that people and business need, from home to work, from Parnidis Dune to Medininkai Castle, into one, into a comprehensive network.’

As previously reported by TeleGeography’s CommsUpdate, in January 2016 Swedish group Telia Company completed the sale of its 100% shareholding in Omnitel to fixed line incumbent TEO LT for EUR220 million (USD237 million) on a cash and debt free basis. Telia Company holds 88.15% of shares in TEO, giving it an indirect stake of 88.15% in Omnitel. In December 2016 shareholders approved a decision to merge Omnitel into TEO LT, after the deal was approved by the Supervisory Authority of the Bank of Lithuania.

Lithuania, Omnitel, Telia Company, Telia Lietuva