Lietuvos Telekomas' Group Agrees to Sale Leaseback of Lithuanian Property Portfolio

Lietuvos Telekomas Web Site - December 8, 2005

On 8 December 2005 Lietuvos Telekomas' Group companies (AB Lietuvos Telekomas and UAB Lintel) and Invalda Real Estate fund signed the agreements, under which Invalda Real Estate fund acquired eight buildings of Lietuvos Telekomas' Group located in Vilnius for 70.2 million litas (VAT exclusive - $24 million). Lietuvos Telekomas' Group will take a lease of necessary premises in seven buildings from Invalda Real Estate fund.

According to the agreement, the ownership right to 5 buildings will be transferred from Lietuvos Telekomas' Group to Invalda Real Estate fund on 30 December 2005, and that of the remaining ones on 30 June 2006. Total area of the eight buildings is about 40 thousand square meters. This is one of the biggest transactions on the real estate market of the city of Vilnius.

AB Lietuvos Telekomas is the company, having the largest experience in the telecommunications business in Lithuania and the leading provider of the Internet, public fixed telephone communication, networks, leased lines and network interconnection services in the country. The company is indirectly owned by TeliaSonera, one of the largest telecommunications corporations in the Nordic and Baltic countries, which holds 60 per cent of the shares of the company through its subsidiary Amber Teleholding A/S. Sphere: Related Content