Third Strategic Investor in the Mobile Telecommunications Sector

Swedish controlled “Tele 2” will become the third strategic investor in Lithuania’s mobile communications sector after Omnitel and Bite GSM. According to the Strategic Investor Contract, if a company invests EUR 55 million or more in the coming three years, it will be granted tax benefits and there will be no increase in taxes for a period of 5 years. “Tele 2” like “Omnitel” and “Bite GSM” has pledged to invest over EUR 55 million and create 300 new jobs. Its first investments will be aimed at expanding the Tele 2 network, introduction of new services including the Internet and GPRS, etc.