Investment firm Stonepeak has agreed to acquire TeleTower, the tower company carved out of Eastern European operator Bite, in a move aimed at tapping growth in the region’s telecoms infrastructure market.
In a statement, Stonepeak said the transaction will make TeleTower the first fully independent tower company operating across Lithuania and Latvia, marking the start of a broader strategy to invest in telecoms assets in Eastern Europe. The acquisition is expected to close in the second quarter of 2026.
Bite established TeleTower in 2009 and has since expanded the portfolio to more than 2,500 towers and rooftop sites across Lithuania and Latvia, primarily concentrated in major urban areas.
Following completion of the transaction, TeleTower and Bite will enter into a long-term commercial agreement that includes plans to deploy more than 1,200 additional sites. The expansion is intended to improve coverage, extend connectivity into more remote areas and support the rollout of 5G services.
Stonepeak managing director and head of digital infrastructure Nicolo Zanotto said Lithuania and Latvia offer attractive investment conditions, citing high levels of mobile data usage and a competitive operator landscape.
Bite CEO Pranas Kuisys said the operator has invested more than EUR400 million in network infrastructure since private equity firm Providence acquired a controlling stake in 2016, supporting the rollout of 4G and 5G services.
Providence managing director and head of Europe Karim Tabet said Bite’s revenues have grown by around EUR200 million over the period, reaching approximately EUR600 million.
