The Latvian telco Baltcom has strengthened its position in the east of the country by concluding a transaction on the purchase of the telecom group Microlines.
Microlines group is one of the most significant and oldest regional operators, providing internet and TV services to customers in Rezekne, Ludza, Preili, Kraslava, Livani, Gulbene, Balvi, Cesis, Valka, Smiltene and other cities. The group includes Microlines, Electrons.lv, Elektrons, Big Telecom, QWERTY and Clouds 365.
Commenting on the development, Dmitrijs Nikitins, CEO of Baltcom, said: “We are pleased with the successful conclusion of the transaction, which has been a major task for both parties and is in line with the strategic goals of Baltcom. Baltcom” is a stable, reliable telecommunications company valued by its customers that has been developing telecommunication services in the market of Latvia for 30 years. We are pleased that an increasing number of customers in the regions will have access to telecommunication services, that are provided according to the high standards of Baltcom”.
Baltcom notes that the customers of Microlines companies will now see an expansion of the services they are offered. They will have access to a symmetrical optical internet offer with a speed of up to 1000 Mbps, TV products will become more diverse and the possibility to use electricity at one of the lowest tariffs in the country will be provided.
It adds that the transaction has become a logical step in the development of Baltcom and a market trend of telecommunications in Latvia, which recently demonstrates consolidation as the regional operators become part of large telecom operators. The parties cannot disclose the value of the transaction due to confidentiality agreements.
Baltcom was founded in 1991 and is the leading private provider of fixed telecom services, including interactive and digital TV, in Latvia. It had a turnover of €19.9 million in 2020.
