MG Baltic sells Elta to Respublika-related firm

  • 2005-09-07
VILNIUS - MG Baltic on Tuesday announced its intention to sell its 57.93 percent stake in the Elta news agency to a little-known firm that appears related to the Respublika publishing house.

Raimondas Kurlianskis, MG Baltic vice-president and CEO of Elta, was quoted as saying, "We have decided to pull out of small businesses."

The concern said it was selling its 57.93 percent stake to Ziniu Partneriai, a firm that was recently set up and was registered at the address of Respublika, a publishing house run by the scandalous Vitas Tomkus.

Tomkus infuriated many last year for writing a series of articles that suggested Jews and gay run the world.

In July the Respublika group won the state tender for a 39.51 percent in Elta. Afterwards Tomkus had been quoted as saying he was interested in acquiring the entire news agency.

MG Baltic is Lithuania's largest business concern, with interest in manufacturing, media, construction and retail.