Wedoany.com Report-Dec.26, Stonepeak has agreed to acquire TeleTower, the tower infrastructure business of Bitė Group operating in Lithuania and Latvia. This transaction creates the first independent tower company serving both countries.

TeleTower, founded within Bitė in 2009, maintains a portfolio exceeding 2,500 towers and rooftop sites. These assets deliver coverage across all major cities and important strategic locations in Lithuania and Latvia.

The deal represents an important development in the Baltic telecommunications market, where tower infrastructure has traditionally been managed by mobile network operators. Bitė Group continues as a portfolio company of Providence Equity Partners, which retains its investment in the wider operator after the sale.

As part of the agreement, Stonepeak and Bitė will form a long-term strategic partnership dedicated to sustained investment in mobile networks throughout Lithuania and Latvia. TeleTower and Bitė have committed to deploying more than 1,200 new sites over the coming years. This expansion will boost network density, extend connectivity to rural and remote regions, and advance the rollout of 5G services, responding to mobile data consumption growth in the Baltics that outpaces the European average.

Stonepeak views the acquisition as a chance to support a newly independent platform in a promising and comparatively underpenetrated tower market. The firm continues to expand its global digital infrastructure holdings, targeting assets that address rising long-term demand for data and connectivity.

Bitė secures ongoing access to key infrastructure through a long-term commercial agreement. This structure enables the company to maintain focus on network quality, customer experience improvements, and service expansion while reallocating capital to other priorities. Since its partnership with Providence, Bitė has invested over €400 million in its networks, significantly broadening 4G and 5G coverage and developing its range of mobile, fixed broadband, pay-TV, and media services.

The transaction reflects increasing investor attention to the Baltic region. Competitive mobile markets, growing data usage, and active 5G deployment are driving demand for neutral host infrastructure. Independent tower models, well-established in Western Europe, are recognized for their ability to speed up network deployment and enhance capital efficiency for operators.

Barclays provided financial advisory services to Stonepeak on the deal. Lazard served as financial advisor to Bitė Group.

The acquisition is expected to close in the second quarter of 2026, subject to standard regulatory approvals.

This agreement supports continued progress in telecommunications infrastructure across Lithuania and Latvia. It promotes stronger connectivity, facilitates 5G advancement, and contributes to the long-term development of digital networks in the region. (Word count: 458)