TeliaSonera is to increase its stake in the Lithuanian incumbent telco TEO LT to 76.16% by acquiring 7.8% of the shares in the company currently held by East Capital.
The price per share in the transaction has been set at €0.637 (LTL2.20), which translates into a total of €38.9 million.
The deal is scheduled to close on May 10 and TeliaSonera will launch a voluntary takeover bid for the remaining shares, offering a total of around €118 million in cash.
TEO LT is a leading provider of TV and broadband services in Lithuania, its interests including the Gala-branded IPTV and DTT platforms.
