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Cobalt Advises Lietuvos Radijo ir Televizijos Centras on Sale of Mezon to Bite Group

Cobalt Advises Lietuvos Radijo ir Televizijos Centras on Sale of Mezon to Bite Group

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Cobalt has advised Lithuania's AB Lietuvos Radijo ir Televizijos Centras - Telecentras on the sale of its data transmission and digital television business developed under the Mezon brand to Lithuania's Bite Group.

According to Cobalt, “Telecentras has about 95,000 Internet service users and provides radio and TV broadcast transmission, data center, IT, infrastructure rental, telephony solutions, and other services."

Cobalt’s team included Partners Elijus Burgis and Rasa Zasciurinskaite and Senior Associates Julija Timoscenko and Justinas Sileika.

Cobalt did not reply to our inquiry on the matter.

Editor's Note: After this article was published CEE Legal Matters learned that Sorainen had advised Bite on the deal. According to Sorainen, the transaction is valued at over EUR 20 million. In addition, the firm reports, "Mezon Internet and data transmission services make up approximately 2% of the total Lithuanian telecommunications market. Around 97,000 customers use Mezon internet services, and over 11,000 customers watch Mezon TV, which is broadcasted via the wireless internet network."

Sorainen's team consisted of Partner Laimonas Skibarka, Daivis Svirinas, and Saule Dagilyte, Counsel Stasys Draydauskas, Senior Associates Jonas Kiauleikis, Vytautas Sabalys, Monika Malisauskaite-Vaupsiene, and Rasa Mikutiene, and Associate Dobile Minkute.

Subsequently, on January 6, 2021, Sorainen reported that the deal "was completed at the end of December in 2020, after the Competition Council and the Communications Regulatory Authority granted their approval, and after Bite made certain commitments."


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