The Supervisory Authority of the Bank of Lithuania has approved the reorganization of Omnitel by way of merger into Teo LT, the latter company said in a statement published on the Nasdaq Vilnius website on Wednesday.
Teo LT in early January purchased 100 % of shares in Omnitel from its shareholder, Sweden's Telia Company, for 220 mln euros. Under the terms and conditions of the merger, approved in early June, Omnitel will cease to operate as a separate company following the reorganization.
Teo LT is listed on the blue-chip Main List of the Vilnius stock exchange.
