Teo buys Omnitel for EUR 220 mln

Tuesday 6 October 2015 | 09:04 CET | News
TeliaSonera is moving forward with its new strategic focus by combining its two Lithuanian subsidiaries. The fixed line operator Teo and the mobile operator Omnitel will join forces, strengthening TeliaSonera's core business in the Nordics and Baltics and creating a fully converged telecom operator. Teo will acquire Omnitel for EUR 220 million on a cash and debt free basis. The new business will be run by a single management team to be led by current Teo CEO Kestutis Sliuzas. Both Kestutis Sliuzas and Dan Stroemberg, CEO of Omnitel, will continue their current roles until the end of the year.

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Categories: General
Companies: Omnitel / Telia / TEO
Countries: Lithuania / World
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