On 3 January 2008, TEO LT, AB (hereinafter TEO or “the Company”) completed transaction on acquisition of 100 per cent stake in UAB Nacionaline Skaitmenine Televizija (UAB National Digital Television). UAB Nacionaline Skaitmenine Televizija, a company that was spun off during reorganization from UAB Mikrovisatos TV, has two licenses for re-broadcasting of television channels through digital terrestrial television (DVB-T) networks. A share sales-purchase agreement on acquisition of UAB Nacionaline Skaitmenine Televizija was signed on 29 October 2007. TEO got the permissions from the Competition Council and Radio and Television Commission of Lithuania for acquisition of UAB Nacionaline Skaitmenine Televizija. From 4 January 2008 Nerijus Ivanauskas, Chief Marketing Officer and Deputy General Manager of TEO LT, AB, will also take a position of General Manager of UAB Nacionaline Skaitmenine Televizija. Vygandas Jūras, Director of Strategic Development and Research Unit, tel. +370 5 274 82 41
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