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Lithuania's regulator gives nod to merge Omnitel into Teo LT
BC, Vilnius, 19.10.2016.
Print version
Print versionLithuania's regulator has given the green light for merging the mobile operator Omnitel into the integrated telecoms, IT and TV services provider Teo LT, informs LETA/BNS.
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The Supervisory Authority of the Bank of Lithuania has
approved the reorganization of Omnitel
by way of merger into Teo LT, the
latter company said in a statement published on the Nasdaq Vilnius website on
Wednesday.
Teo LT in early
January purchased 100 % of shares in Omnitel
from its shareholder, Sweden's Telia
Company, for 220 mln euros. Under the terms and conditions of the merger,
approved in early June, Omnitel will
cease to operate as a separate company following the reorganization.
Teo LT is
listed on the blue-chip Main List of the Vilnius stock exchange.
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