TeleTower, which was established within Bitė in 2009, operates a portfolio of more than 2,500 towers and rooftop sites across the two countries, with coverage in all major urban centres as well as key strategic locations. The transaction marks a significant step in the evolution of the Baltic telecoms market, where tower infrastructure has historically remained largely in the hands of mobile network operators.
Bitė Group is a portfolio company of Providence Equity Partners, which will remain invested in the wider operator following the sale. Under the terms of the agreement, Stonepeak and Bitė will enter into a long-term strategic partnership focused on continued investment in mobile networks across Lithuania and Latvia.
As part of this partnership, TeleTower and Bitė have committed to the rollout of more than 1,200 additional sites in the coming years. The expansion aims to increase network density, improve connectivity in rural and remote areas, and support the delivery of 5G services, as mobile data consumption in the Baltics continues to grow faster than the European average.
For Stonepeak, the deal represents an opportunity to back a newly independent platform in what it sees as an attractive and relatively underpenetrated tower market. The firm has been building out its digital infrastructure portfolio globally, with a focus on assets that support long-term growth in data demand and connectivity.
Bitė, meanwhile, retains access to critical infrastructure through the long-term commercial agreement, allowing it to continue investing in network quality and customer experience while freeing up capital for other strategic priorities. Since partnering with Providence, Bitė has invested more than €400 million in its networks, expanding 4G and 5G coverage and broadening its services across mobile, fixed and pay-TV offerings.
The transaction also underscores growing investor interest in the Baltic region, where competitive mobile markets, rising data usage and ongoing 5G deployment are creating demand for neutral host infrastructure. Independent tower models, long established in Western Europe, are increasingly seen as a way to accelerate network rollout while improving capital efficiency for operators.
The acquisition is expected to complete in the second quarter of 2026, subject to customary approvals. Barclays advised Stonepeak on the transaction, while Lazard acted as financial advisor to Bitė Group.
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