Providence Equity Partners’ Bitė Group to Sell TeleTower to Stonepeak

Paul, Weiss is advising Providence Equity Partners and its portfolio company Bitė Group, a leading telecom operator in the Baltics, in Bitė’s sale of its Lithuania- and Latvia-based cellphone tower business TeleTower to Stonepeak. The transaction will create the first fully independent tower company in the region and mark the beginning of a strategic partnership dedicated to investing in the Baltics’ mobile network and improving end-customer experience.

Following completion of the transaction, expected in the second quarter of 2026, TeleTower and Bitė will enter into a long-term commercial agreement to increase network density, provide improved connectivity to remote areas and deliver 5G speeds to customers, as mobile data usage in the region continues to outpace Europe more broadly. Financial terms of the deal were not disclosed.

The Paul, Weiss team is led by corporate partner Tom Levine and includes intellectual property partner John Patten.