Published by Global Banking & Finance Review®
Posted on August 6, 2025
1 min readLast updated: January 22, 2026
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Tele2 and GCI are forming a 560 million euro telecom tower company in the Baltics to enhance 5G services, based in Lithuania.
COPENHAGEN (Reuters) -Sweden's Tele2 said on Wednesday it would form a telecoms tower company with Global Communications Infrastructure (GCI), backed by Manulife Investment Management, to roll out mobile and 5G services across the Baltic countries.
Tele2 said in a statement the transaction valued the tower company at 560 million euros ($648.59 million) on a debt free basis and that the company expected cash proceeds of around 440 million euros.
The new company will be based in Lithuania and will own around 2,700 telecom tower and rooftop sites in Estonia, Latvia and Lithuania, Tele2 said.
($1 = 0.8634 euros)
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
A telecom tower company owns and operates towers that support telecommunications equipment, enabling mobile and internet services for providers.
5G is the fifth generation of mobile network technology, providing faster speeds, lower latency, and the ability to connect more devices simultaneously.
Infrastructure investment involves allocating capital to physical structures and facilities, such as telecommunications towers, that support economic activities.
A partnership in business is an arrangement where two or more parties agree to work together towards common goals, sharing profits and responsibilities.
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