Press releases (Year 2007)
BITĖ Group welcomes “Mid Europa Partners”
January 19, 2007
BITĖ Group, one of the largest telecommunications groups in Baltic countries, consisting of “Bitė Lietuva” and “BITE Latvija”, is pleased to announce that it has a new controlling shareholder “Mid Europa Partners”, a leading private equity fund in Central and Eastern Europe. Today TDC announced the sale of its 100 percent owned “Bitė” to “Mid Europa Partners” for a cash consideration of EUR 0,45bn (1,55 billion Litas).“Bitė” welcomes “Mid Europa Partners” as its new owner and is pleased to announce this successful deal to our customers, employees and the market”, says Maarten van Engeland, CEO of BITĖ Group.
“We are also proud to say, that “Bitė” has shown excellent results and growth and is amongst the most rapidly developing telecommunication groups in Europe. Therefore we are looking forward to working with “Mid Europa Partners” to further develop “Bitė“ as a successful company and continue on building our activities for the benefit of the customers and employees“, says M. van Engeland.
“All our obligations and commitments to the customers will be fulfilled, as well as continuity of all processes, developments and activities further ensured. The acquisition will have no effect on our current or potential clients or to services prices“, says M. van Engeland. “Bitė” will continue its strategy offering high-quality services, a broad retail chain, modern and more convenient ways to pay for services, integrated data transmission solutions and unique mobile Internet services in Lithuanian and Latvian markets.
Since January 13th 2000 the only “Bitė” shareholder was TDC, the Danish full-service provider of communications solutions throughout Europe, owning 100 percent of the shares.
Maarten van Engeland, CEO of BITĖ Group, will hold a teleconference at 1.30pm. The media is welcome to join teleconference calling at +45 70 26 50 45, participants (guest) code: 963 11 24 #
For more information please contact:
Lina Karsokaitė,
External communication manager, BITĖ Group
Mob. ph. +370 699 23 709,
E-mail public.relations@bite.lt
