Stonepeak to acquire TeleTower from providence portfolio company Bitė group, creating Baltic tower operator

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Stonepeak will buy TeleTower, the telecom towers arm of Bitė Group in Lithuania and Latvia, and form the region’s first independent tower company A commercial agreement will follow to expand network infrastructure, though questions remain about the impact on competition and rural connectivity What happened: Stonepeak agrees to acquire TeleTower from Bitė group in Baltic infrastructure deal Stonepeak, the global infrastructure investment firm, has reached an agreement to acquire TeleTower, the towers business of Bitė Group in Lithuania and Latvia.

The deal was announced on 23 December 2025 and is expected to close in the second quarter of 2026. TeleTower, established in 2009 as part of Bitė, oversees more than 2,500 mobile towers and rooftop sites across the two Baltic states. Under the transaction terms, Stonepeak will take ownership of this portfolio and, in cooperation with Bitė, enter a long-term commercial agreement to roll out more than 1,200 additional sites. The aim is to increase network density, improve service in remote areas and expand 5G coverage.

Bitė Group operates as a telecommunications provider in the Baltic region and is owned by Providence Equity Partners, a private equity firm specialising in communications and technology investments. Providence has been backing Bitė since 2016, during which time the operator has invested substantially in mobile and broadband infrastructure. Financial advisers on the deal include Barclays for Stonepeak and Lazard for Bitė, with respective legal teams also appointed.

Also Read: Telia strengthens RAN capabilities with new Ericsson and Nokia contracts Also Read: Huawei pushes F5G-A vision to power Europe’s intelligent future Why it’s important This acquisition positions Stonepeak at the centre of a growing trend in mobile infrastructure investment across Europe. By creating the first fully independent tower operator in the Baltic states, the firm is entering a market where mobile data usage is increasing rapidly, partly driven by competitive dynamics between national operators.

Independent tower companies which own and manage telecom masts and related infrastructure separately from mobile network operators have been expanding across Europe. They are seen both as opportunities for investors and potential efficiency drivers for network deployment, especially for 5G and future technologies. However, the effects of such consolidation on compeStonepeak-TeleTower-Bitė-Baltic-infrastructuretition, pricing, and service quality remain subject to scrutiny by regulators and industry observers.

The planned expansion of TeleTower raises questions about whether enhanced network coverage in rural and less commercially attractive areas will actually materialise. Investment in additional sites does not always guarantee improved consumer outcomes, particularly if commercial returns take precedence over broader connectivity goals. By partnering with Bitė under a long-term commercial agreement, Stonepeak is signalling its intent to balance infrastructure growth with the incumbent operator’s strategy.

Yet observers may ask how this arrangement will affect market competition and whether independent infrastructure ownership translates into tangible improvements for end users. The transaction also reflects the growing interest of international capital in Baltic digital infrastructure. As mobile data consumption continues to outpace broader European averages, investment in network capacity becomes both a business opportunity and a public interest concern.