IT and telecommunications company TEO LT, AB (hereinafter – Teo) acquired a 100 per cent stake in UAB Omnitel from its current shareholder TeliaSonera AB. By completing this transaction, Teo and Omnitel are launching their joint new generation telecommunications business in Lithuania.

Teo acquired shares in Omnitel for EUR 220 million on a cash and debt free basis. SEB Bank and Danske Bank provided to Teo a loan of EUR 150 million in equal instalments of EUR 75 million. As a result of this deal, the structure of the shareholders of Teo will remain unchanged – TeliaSonera AB will continue to own 88.15 per cent of shares, while other shareholders – 11.85 per cent stake in Teo and, indirectly, in Omnitel.

"Teo and Omnitel have launched the development of their new generation telecommunications business, which reflects the global direction of the consolidation of services and the convergence of technologies. Therefore, already this year we are going to offer to our customers the first services and products that will be developed without thinking about technological divides, and to business – their simple management though account managers", – Kęstutis Šliužas, CEO of Teo and Omnitel, says.

Residents of Alytus were the first to have an opportunity to familiarize themselves with each other complementing integrated IT and telecommunications services under one roof as the first experimental joint customer care showroom of Teo and Omnitel was opened there in the middle of November 2015.

As from the beginning of the year 2016, both companies are led by the new management team that was approved by the Board of Teo in December 2015. The business structure of Teo and Omnitel corresponds to the TeliaSonera Group’s model, which consists of the following units: corporate customers, private customers, technologies, customer operations, risk management, finance, human resources, corporate affairs and legal affairs.

         Darius Džiaugys,
         Head of Investor Relations,
         tel. +370 5 236 7878