Simpson Thacher is advising Stonepeak in connection with the acquisition of TeleTower, Bitė’s towers business in Lithuania and Latvia. The transaction is expected to close in the second quarter of 2026.
Established in 2009 within Bitė, TeleTower operates a diversified portfolio of more than 2,500 tower and rooftop sites across Lithuania and Latvia, with strong presence in strategic locations in all major Lithuanian and Latvian cities. The transaction will create the first fully independent tower company in the region. Following the completion of the transaction, TeleTower and Bitė will enter into a long-term commercial agreement including commitments to roll out more than 1,200 additional sites to increase network density, provide improved connectivity to remote areas, and deliver 5G speeds to customers, as mobile data usage in the region continues to outpace Europe more broadly.
The Simpson Thacher team includes Paul Foote, Eleanor Milne, Kate Strachan, Diogo Filipe, Matt Fowler, Oliver Heighton, Edward Wilson, Elizabeth Lee, Cie Jen Wong and Leo Hutchings (U.K. Corporate); Gabriel Silva, Gabriela Astolphi and Matthew Anderson (U.S./Brazil Corporate); Paul Hibbert, Emma Serginson and Dilraj Rai (Credit); Josh Buckland, Sarah Chaudhuri and Dimitrios Nikolaidis (Antitrust); and Sarah Lindley, Jonathan Goldstein, Sefia Jivraj and Cassandra Hamill (Tax).