Major IPTV deal in Lithuania
Providence Equity Partners-backed Bite Lietuva has agreed to buy the internet, data transmission and IPTV business operated by Lithuania’s Telecentras.
In a statement, Telecentras, which is the country’s national transmission company, says that Bite Lietuva was chosen because it bid the highest amount – over €20 million – for the business, which is being developed using the Mezon brand.
It adds that that the transaction still has to be approved by the Competition Council and market surveillance authorities.
Commenting on the development, Vidas Danielius, chairman of the board at Telecentras, said: “Telecentras is selling the Mezon business because it links its future to core activities – the transmission of television and radio programs – and state information and telecommunications infrastructure development projects. As the market situation changed, the company’s administration and board decided to focus the company on the development of infrastructure projects important to the state. In order for a company to effectively implement these projects, it must no longer provide services in the retail market. That is why in 2019. a strategic decision was made to separate them into a separate asset unit and sell them”.
Mezon currently accounts for around 2% of Lithuania’s telecom market.
Some 97,000 customers use its internet and 11,000 IPTV via LTE services.
Bite Lietuva is part of Bite Group, one of the leading media and telecom operators in the Baltic Republics.