The Lithuanian cable operator Cgates UAB is to buy a 100% stake in Mikrovisatos TV, the largest provider of telecom services in Kaunas, the country’s second largest city, for an undisclosed fee.
Cgates UAB was formed earlier this year following the merger of Viginta UAB with four companies it owned.
It currently provides cable and digital multifunctional TV, fibre-optic internet and IP telephony services in seven cities including the capital, Vilnius.
Backed by Advanced Broadband Ltd and SEB Venture Capital UAB, Cgates UAB is the second largest provider of broadband internet and cable TV services in the country after the incumbent telco TEO LT.
Following the deal to buy Mikrovisatos TV, which still has to be approved by the Competition Council, Cgates UAB will have 180,000 subscribers and a total turnover of €15 million.