KPMG, a global network of firms offering audit, tax and advisory services, which consulted IT and telecommunications company Teo in its acquisition of 100% Omnitel shares, predicts that this year, the Baltic States should expect more similar transactions.
“This Teo transaction is highly important for the Lithuanian telecommunications market. For several years now we have been observing consolidation processes in this sector, where mergers and acquisitions are used as a tool to achieve growth and efficiency. I am sure this year this is not the last transaction of such type in the Baltic States,” says the Head of KPMG Corporate Finance Darius Klimašauskas.
KPMG team, led by Partner Domantas Dabulis and Darius Klimašauskas, performed financial and tax due diligence of the acquired company and submitted a fairness opinion on the value of Omnitel shares to the Board of Teo.
The transaction parties agreed that Teo would acquire Omnitel shares from its current owner TeliaSonera for EUR 220 million on a cash and debt free basis.
“Clients are increasingly choosing us for the entire range of services necessary to perform a transaction. We hope that this transaction will bring large value to Teo shareholders,” says D. Dabulis.
KPMG is a global network of member firms offering audit, tax and advisory services, operating in 155 countries worldwide and employing 155,000 professionals. KPMG in Lithuania is one of the leading providers of tax, audit and advisory services.
© 2017 "KPMG Baltics", UAB, a Lithuanian limited liability company and a member firm of the KPMG network of independent members firms affiliated with KPMG International Cooperative ("KPMG International") a Swiss entity. All rights reserved.
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