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Company briefs - 2006-02-22

Feb 22, 2006

VP Market, the Lithuanian retailer, which promised to open a T-Market store in the southern Estonian town of Voru this summer, has had second thoughts and instead plans to build a Maxima supermarket. "This will be the first Maxima in Estonia," company spokesman Erkki Erilaid said, adding that additional branches will be opened later. The store opening is scheduled for midsummer, and employees are already being recruited. According to Erilaid, training will take several months. VP Market opened 13 stores in Estonia in 2005.





The Estonian Investment Fund, Martinson Trigon, acquired 100 percent of shares in MicroLink, an IT company, and Baltijos Kompiuteriu Akademija from Lietuvos Telekomas (Lithuanian Telecom). The former two companies used to be part of the MicroLink group, which was sold to Baltic telecom firms in October 2005. Elion bought the operations of MicroLink Estonia, as well as the Latvian and Lithuanian operations of MicroLink. However, the competition board did not approve the deal, giving Lithuanian Telecom six months to resell its shares, Martinson Trigon said. In the six last months of 2005, the two firms' turnover totaled 42 million kroons (2.7 million euros), with 4 million kroons in net profit.
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