Trends
Stonepeak to acquire TeleTower from providence portfolio company Bitė group, creating Baltic tower operator
Stonepeak has agreed to acquire TeleTower from Bitė Group, forming an independent Baltic tower operator with plans for network expansion.
Headline
Stonepeak has agreed to acquire TeleTower from Bitė Group, forming an independent Baltic tower operator with plans for network expansion.
Context
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.
Evidence
Pending intelligence enrichment.
Analysis
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 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.
Key Points
- 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
Actions
Pending intelligence enrichment.
