Mid Europa Partners acquired TDC’s Baltic mobile subsidiary Bité

Mid Europa Partners agreed to acquire 100% of Baltic mobile operator Bité from TDC.

Bité (www.bite.lt or www.bite.lv)
Bité is the number two mobile operator in Lithuania according to revenue and the number three operator in Latvia with a total of almost 2 million subscribers.

Bité is one of the fastest growing mobile telephone companies in Europe generating an annual revenue growth rate of 20% of the past two years. Bité is a leading operator in Lithuania with a 30% market share of the mobile market based on revenues and it has successfully developed its Latvian business since its launch in September 2005.

Mid Europe is committed to the continued development of Bité via further significant capital expenditures in 3G and HSDPA roll-out in both countries.

Mid Europa Partners (www.mideuropa.com)
Mid Europa Partners is a leading private equity firm in Central and Eastern Europe. Operating from London, Budapest and Warsaw, Mid Europa Partners advises and manages funds with committed capital in excess of € 2.2 billion.

Mid Europa Partners seeks to take controlling stakes in its investments, either on its own or working alongside other financial or strategic partners. The Company invests € 25 million to € 200 million in companies with enterprise values ranging from € 100 million to € 1.5 billion that are cash-flow generative and have dominant market positions in sectors with high barriers to entry.

Mid Europa Partners is the investment manager to Emerging Europe Convergence Fund II, L.P., whose fund manager and general partner is EMP Europe Management (CI), L.P.