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Lietuvos Telekomas - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Lietuvos Telekomas is the largest telecommunications service provider in Lithuania engaged in the provision of local, long-distance, and international fixed-line telecommunications services, as well as the development of Internet and data communications services. AB Lietuvos Telekomas is the parent company of the group and performs the core business of providing fixed-line telephony, data communications, fixed-line network, wholesale, and Internet-related services. It has various subsidiaries including the wholly-owned UAB Comliet (design and construction of fixed-line and wireless telecommunications networks), UAB Lietuvos Telekomo Verslo Sprendimai (telecommunications solutions and consultancy services), UAB Lintel (directory inquiry services, telemarketing, and call centre services), UAB Voicecom (VoIP services); and, VšI Lietuvos Telekomo Sporto Klubas (non-profit organisation which provides sports club services). Although Lietuvos Telekomas currently lists these as subsidiary companies, UAB Lietuvos Telekomo Verslo Sprendimai and UAB Voicecom have ceased operations and their services are provided by Lietuvos Telekomas itself. Other subsidiaries of the Lietuvos Telekomas group include: UAB Baltic Data Center (60%-owned by the group and provides IT services to the group and third parties); UAB Verslo Portalas (30%-owned by the group and engaged in the development of B2B portals; this company is currently under liquidation); and, UAB TietoEnator Consulting (26%-owned by the group and a provider of professional IT services to the group and third parties). These subsidiaries in turn have equity interests in several other companies. Lietuvos Telekomas was set-up in 1992 as a state-owned company and was later privatised in July 1998. As of September 2005, Amber Teleholding A/S, a wholly-owned subsidiary of TeliaSonera, held 60% of the share capital of Lietuvos Telekomas.
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