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Lithuanian Cgates to be sold
BC, Vilnius, 21.11.2014.
Print version
Print versionExtraordinary event has occurred in Lithuania's telecommunications market – one of the most lucrative internet, cable TV and landline telecommunications service providers Cgates is going to be sold, informs LETA/ELTA.
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The transaction is estimated to be worth up to LTL 140 million (EUR 40.5 million). The buyer is not yet known, however, it is rumoured there are five candidates, writes the daily Verslo Zinios website vz.lt.
Lithuanian telecommunications sector has been discussing for several last weeks who might take over one of the most profitable companies from the SEB Bank company group and other investors.
"It is very likely that the contract for the sale of shares will be signed already this year, but documents and clearance from the competition supervision services might be received in 2015," said a source of the daily Verslo Zinios.
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