Estonia, Financial Services, Lithuania, Markets and Companies, Telecomunications

"With this transaction that was recently approved by the competition authority of Lithuania we are making the next step in the strategy of Starman Group aimed at consolidating the Lithuanian market and increasing customer numbers," Starman Group chairman of the board Aivo Adamson.

Adamson said that unlike the market of Estonia, the Lithuanian market for telecommunications services is fragmented and expansion by means of acquisitions is part of the group's strategy.

"The Lithuanian market is characterized by a very strong regional dimension, which sets its limits on the ability to develop the service offered to customers," he said.

Telekomunikaciniu paslaugu grupe (TPG) owns three television and internet service providers in Panevezys and Ukmerge, named Kateka, Elekta and Teletinklas.

In spring 2016, Cgates acquired the company Remo televizija operating in the towns of Elektrenai and Kaisiadorys.

"Starman has taken into use several next generation entertainment service solutions in Estonia in recent years, such as the possibility to watch television at any time on the customer's device of choice. Our development strategy and investments are aimed at bringing the newest services also to consumers in Lithuania," Adamson said.

The acquisition of the operators in Panevezys and Ukmerge will increase the number of customers of Cgates by 18,000 to approximately 170,000 households.

Following the acquisition of TPG, Cgates provides television and internet services in Vilnius, Kaunas, Siauliai, Marijampole, Panevezys, Alytus and Ukmerge, speaking of the major cities of Lithuania.