Talks with Sweden's Telia on future of Tet and LMT have been positive - economics minister

  • 2024-11-12
  • LETA/TBT Staff

RIGA - Negotiations with Sweden's Telia, the co-owner of Latvian telecommunications companies Tet and Latvijas Mobilais Telefons(LMT), on the companies' future have been positive, Economics Minister Viktors Valainis (Greens/Farmers) said on Tuesday in an interview to Latvian Television (LTV).

The minister said that the outcome of the negotiations was positive, as the Economics Ministry had managed to find solutions to the tasks assigned to it.

According to Valainis, on Telia's part, there is understanding of these issues and also of Latvia's position, including why this or that issue is important to Latvia. "I also see an understanding and a common vision from the other shareholder on how we can proceed," the minister said.

Valainis indicated that broad discussions on this matter might begin once the government has chosen the scenario for further negotiations with Telia. "As soon as the government takes a considered decision on which direction we are taking, there will be a very open debate," Valainis said, adding that a decision could be taken in the government in the next few weeks.

As reported, the government at a sitting behind closed doors on July 16 agreed on further scenarios for negotiations with Telia, a shareholder in Latvian tech companies Tet and LMT.

The government has outlined the future course of action to be discussed with Telia and has authorized the Economics Ministry to conduct these negotiations.

The state, through Public Asset Manager Possessor, owns 51 percent of Tet, while Telia's subsidiary Tilts Communications owns 49 percent of Tet. In LMT, on the other hand, Telia and its subsidiary Sonera Holding own a total of 49 percent, the Latvian state owns a total of 28 percent through the Latvian State Radio and Television Centrer (23 percent) and Possessor (5 percent), while Tet holds another 23 percent.

A complex management scheme for Tet and LMT has been set up in the past, which the two shareholders - the Latvian government and the Swedish company Telia - have so far been unable to agree on changing.