American investment company Stonpeak has entered into an agreement with Baltic telecom operator Bite Group to acquire TeleTower’s operations in Lithuania and Latvia. This was announced in a Stonpeak press release.
The deal aims to create an independent tower management company as part of a strategic partnership to increase investment in the Baltic mobile network and improve customer service.
TeleTower operates a portfolio of 2,500 towers in Lithuania and Latvia and has a significant presence in strategically important cities across the Baltic States. Following the completion of the transaction, TeleTower and Bite will enter into a long-term commercial agreement to deploy over 1,200 additional towers to increase network density, improve connectivity in remote areas, and deliver 5G speeds to customers.
Bite, with the participation of Providence, previously invested over EUR 400 million in communications infrastructure to expand its 4G and 5G network and provide high-speed connectivity.
The transaction is expected to close in the second quarter of 2026. Barclays is serving as financial advisor, and Simpson Thacher & Bartlett LLP and COBALT are serving as legal counsel to Stonpeak. Lazard represents Bite Group. (AK&M)