Comliet and Merko Ehitus Ltd. Have Acquired Estonia-based Company Telegrupp AS.

Following the provisions of the binding Letter of Intent signed on 28 May 2002, on 4 July 2002 UAB Comliet, the largest subsidiary of AB Lietuvos Telekomas, and one of the largest construction companies in the Baltics, Merko Ehitus Ltd. AS, Estonia, acquired a 100 per-cent stake in the Estonian company Telegrupp AS.
UAB Comliet will control 55 per cent of shares and Merko Ehitus Ltd. AS will own a 45 per-cent stake. This step will allow UAB Comliet and Merko Ehitus Ltd. AS to offer a wider range of services and derive maximum economic benefit from their cooperation on the Baltic market. The acquisition of shares will considerably expand possibilities of Telegrupp AS as well as of UAB Comliet and its Latvian subsidiary Datu Tikli SIA. It will enable to enlarge the range of services, besides, the companies will have an opportunity to offer their services in all Baltic States.

“Recently Comliet has signed an agreement on acquisition of the majority stake in the Latvian company Datu Tikli SIA allowing to expand Comliet’s activities in Latvia. Acquisition of Telegrupp AS shares will enable us to offer our services to Estonian customers, too. Our performance on the Baltic market will be based on the application of common solutions and the highest customer care standards,” says Tapio Paarma, Chairman of the Board of UAB Comliet.

According to Eimantas Ðatas, the General Manager of UAB Comliet, Telegrupp AS is among the leaders on the Estonian market in the field of construction and maintenance of low current networks. Its core business will be further concentrated on construction and maintenance of these networks. Yet, in the near future the company will offer its customers such services as installation and maintenance of telecommunications networks, fire protection alarm and premises management systems. Application of unified solutions, expertise gained in other companies, perfect designing and construction tools will allow Telegrupp AS to provide its customers with even higher quality services.