Acquiring the shares cost Teo €220 million, excluding the company‘s existing cash and debt. Teo‘s shareholder structure will remain unchanged after the transaction – TeliaSonera will continue to own 88.15% of its stock.
“Teo and Omnitel are launching a new generation of telecommunications services business that reflects the global consolidation and technology convergence direction. Therefore, this year we will offer our customers services and products that will be developed without thinking about technological divisions,” said Kęstutis Šliužas, the head of Teo and Omnitel.
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