Eltel to divest its business operations in Estonia
Today, Eltel has signed an agreement to sell its business operations in Estonia to Estonian Tecnolines OÜ, a company which operates in the Estonian networks design, construction and maintenance sector. Eltel’s Estonian business comprise power, telecommunication and gas infranet services.In 2016, these operations generated net sales of EUR 26.3 million with low profitability and currently employs approximately 300 people. The closing of this transaction is subject to approval by the Estonian Competition Authorities and is expected to occur at the latest in the fourth quarter of 2017. The