Competition Council approves Cgates stake acquisition

29 Aug 2017

Lithuania’s Competition Council has cleared a deal that will see Baltic private equity firm Livonia Partners and Estonian fund LHV jointly acquire a 34.8% stake in Cgates, Lithuania’s second largest fixed broadband operator by subscribers. The acquisition will take place indirectly through Silver Screen Holdings, giving the two companies joint control of Cgates together with Estonian firms Polaris Invest and Com Holding. Having evaluated all the circumstances related to the transaction, the Competition Council determined that the intended merger will not create or strengthen the dominant position of Cgates, or significantly restrict competition in the relevant markets.

Vilnius-based Cgates provides cable and digital television, fixed telephony and fibre-optic broadband internet to more than 270,000 subscribers in 18 cities.

Lithuania, Cgates