Bité Must Crack Mobile Data Markets in Lithuania and Latvia
May 2007 | Company Finance AlertNo longer a subsidiary of Denmark's TDC , which sold its interest in the Bité Group to private equity fund Mid Europa Fund for EUR443mn in February 2007, we now have our first opportunity to monitor the group's progress on the back of its results for Q1 2007. At first glance, the operator would appear to be in a healthy position with consolidated service revenues on EUR40.7mn, up by 20% y-o-y, and EBITDA increasing by 53% y-o-y to EUR8.1mn. It is growth in Bité's Lithuanian business that is driving these results, whilst the operator's start-up business in Latvia is actually in the red with a negative EBITDA of EUR3.7mn. Chairman of Bité's Management Board, Ken Campbell would prefer to concentrate on the "encouraging" service revenue growth in Latvia (showing an increase of 260% y-o-y to EUR1.8mn) as customer growth continues, despite the apparent saturation of Latvia's mobile market.
If you would like to subscribe to Emerging Europe Telecommunications Insight and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Emerging Europe Telecommunications Insight please click on the trial link below.
