Stonepeak is set to establish the first independent tower operator in the Baltics by acquiring TeleTower, aiming to enhance mobile network infrastructure in Lithuania and Latvia.

Target Information

Stonepeak, a prominent alternative investment firm, has announced a strategic agreement to acquire TeleTower, a business segment of Bitė Group that operates tower infrastructures across Lithuania and Latvia. Founded in 2009 as part of Bitė, TeleTower manages a diverse portfolio of over 2,500 tower and rooftop sites that strategically serve major urban areas in both countries. The acquisition is poised to establish the first independent tower operator in the Baltics, a significant milestone in enhancing mobile network capabilities in the region.

This transaction will not only expand TeleTower's operational footprint but also bolster network density and connectivity in underserved areas through future investments, promising improved 5G service delivery in a market where mobile data consumption is on the rise.

Industry Overview

The telecommunications industry in the Baltics is positioned for growth, driven by increased mobile data usage that surpasses the European average. In recent years, there has been a competitive push among mobile network operators to enhance serv