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Friday, 19.04.2024, 22:23
Providence buying Lithuania's television group TV3 via Bite Lietuva
BC, Vilnius, 10.05.2017.
Print version
Print versionProvidence Equity Partners is buying Lithuania's television group TV3 from Sweden's media group Modern Times Group (MTG) via Bite Lietuva, a local telecoms company controlled by the global private equity firm, reports LETA/BNS.
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The Lithuanian Competition Council said on Wednesday that Bite Lietuva had applied for approval to purchase 100 percent of shares in TV3 and Tele-3 Radijas each and 100% of Estonia's Viasat, a provider of digital satellite pay TV services in the Baltic countries.
According to the competition authority, the deal would also give Bite Lietuva indirect control of Smart AD Network, a company owned by TV3.
MTG in March announced the sale of its Baltic business to Providence Equity Partners in a 115-mln-euro deal that also covers the Latvian TV channels TV3, TV3+, TV6, Kanals 2 and LNT, and Estonia's TV3, TV3+ and TV6.
The transaction is expected to be completed in early summer after obtaining regulatory approvals in the three Baltic countries.
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