Baltic States – CIS, Investments, Legislation, Lithuania, Mergers and take-overs, Russia, Transport

Sistema's officials have confirmed the deal to Russia's news website RBK. Luxembourg-registered Sistema Finance is buying 50% of shares in Laserpas for 2.6 million euros. Cyprus' competition watchdog has also been notified about the concentration, but the deal has not yet been registered in Lithuania.

Mantas Vaskela, the CEO of Laserpas, which provides surveillance and high-precision monitoring solutions for power line operators, says that the investment will be used mostly for expansion to foreign markets.

"In Europe, most electricity operators replace their networks with underground ones. So, we see the greatest expansion opportunities in Latin America, especially in Brazil, and in Southeast Asia, including Vietnam, Thailand, Indonesia," he said.