Printer Friendly

Tele2 and Bite to form JV to share networks in Latvia and Lithuania.

M2 EQUITYBITES-June 4, 2019-Tele2 and Bite to form JV to share networks in Latvia and Lithuania

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Tele2 AB (STO:TELE2A), a European telecommunications operator, announced on Monday the signing of an agreement with the operator Bite to create a network sharing joint venture to build, own and operate mobile networks in Latvia and Lithuania.

This partnership includes sharing of active and passive network infrastructure in current networks, spectrum sharing, as well as future build-out of 5G.

Reportedly, the two operators' current radio and transmission networks will be merged, forming a joint shared network in each country. The aim is to improve network capacity and coverage for Latvian and Lithuanian customers, while reducing each party's operational costs and energy consumption.

Each party obtains a 50% ownership in the joint venture in both Latvia and Lithuania. The joint network will be built out gradually starting 2021, with the full network targeted to be established by 31 December 2023.

This partnership also aims to roll out joint 5G networks faster and at a significantly lower cost than Tele2 and Bite would have been able to do on a stand-alone basis.

According to the company, the board and management of the joint venture is jointly appointed by the two owners and managed by a board with representatives from each company.

On 31 December 2023, Tele2 and Bite will share their entire radio network, only excluding customer specific solutions. The parties will continue to act as competitors in the Lithuanian and Latvian markets in all other aspects.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2019 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Geographic Code:4EXLT
Date:Jun 4, 2019
Words:271
Previous Article:Nouscom awarded US FDA approval for IND application for the first phase 1 clinical trial of its lead candidate NOUS-209.
Next Article:TransCure bioServices announces EUR2.5m in funding.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |