Lithuania: EU clears a joint venture by Bité, Tele2, Telia
Societies can provide mobile payment to businesses and consumers
21 July, 11:32Moreover, the Commission found that "the joint venture's parents would not have the ability, or incentive, to shut out rivals, in particular due to the presence of alternative means for competitors of the joint venture to securely store information and to authenticate users".
The three societies are all from Lithuania. Bit is controlled by the US firm Providence Equity, while Tele2 is part of the Tele2 Group, controlled by the Swedish investment company Kinnevik, and Telia is part of the Swedish Telia Company AB. (ANSA).