TEO: FTTH Internet access for 50% of Lithuania this year

AUGUST 31, 2010 -- TEO LT AB of Lithuania says it plans to spend about LTL 96 million (approximately $34.1 million) to deploy of its next-generation fiber-optic network. The company says its investments will already this year enable the availability of FTTH Internet services to approximately half of the country’s populatio
Aug. 31, 2010
2 min read
Pennwell web 448 317

AUGUST 31, 2010 -- TEO LT AB of Lithuania says it plans to spend about LTL 96 million (approximately $34.1 million) to deploy of its next-generation fiber-optic network. The company says its investments will already this year enable the availability of FTTH Internet services to approximately half of the country’s population.

The total investments of TEO in the FTTH network, which has been expanded in 50 cities of Lithuania over the past three years, will total approximately LTL 255 million ($94 million) by year end.

According to Giedrius Vegys, CFO of TEO, successful performance of TEO and the telecommunications market starting to show signs of recovery will allow the company to increase investments in deployment of its next-generation network. This year the company will allocate 75 per cent more funds for the network than in 2009.

This year’s total investments of TEO into the development of the network, information systems and other activity fields will amount to LTL 178 million ($65.6 million).

Pennwell web 448 317
By the end of December, the FTTH network will be available for use to about half of the country’s population (570 thousand households) TEO asserts. The carrier has focused development in the country’s biggest cities. By the end of 2010 it will be available to approximately 88% of the residents of Vilnius, 95% of residents in Klaipėda, 75% of residents in Kaunas, more than half of the residents of Panevėžys and Šiauliai. At the end of June, the next-generation network services were used by more than 84,000 customers, and it is forecasted that by the end of this year there will be more than 100,000. TEO currently provides 200-Mbps Internet services, with a goal of several gigabits per second.Visit TEO
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