Business
Tele2 to form telecoms tower company in Baltic countries
Tele2 to form telecoms tower company in Baltic countries
About this update from Tele2 Ab Class A
Sweden's Tele2 OMXSTO:TEL2_A said on Wednesday it would form a telecoms tower company with Global Communications Infrastructure (GCI), backed by Manulife Investment Management, to roll out mobile and 5G services across the Baltic countries.Tele2 said in a statement the transaction valued the tower company at 560 million euros ($648.59 million) on a debt free basis and that the company expected cash proceeds of around 440 million euros.The new company will be based in Lithuania and will own around 2,700 telecom tower and rooftop sites in Estonia, Latvia and Lithuania, Tele2 said.($1 = 0.8634 euros)