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Latvian government decided against merging LMT and Lattelecom

On Tuesday, 7 November, Latvian government decided not to support the merge between Latvijas Mobilais telefons and Lattelecom.

As it is known, Economy Ministry had submitted a report for review to the government on future plans for Lattelecom and LMT shares.
 

Yesterday it was mentioned at a meeting of coalition partners that the government may not support the merging of the two telecommunication operators. The National Alliance viewed this matter at a meeting of the party’s board. In the end, the party decided to oppose the merge. Roberts Zīle told LETA after the meeting that until now there has not been a single argument in favour of the merge.
 

Augusts Brigmanis, head of the Union of Greens and Farmers Saeima faction, said after the coalition partners meeting that it would be more logical to oppose the merge under the current situation. He added that there are too many unanswered questions and unified position on the matter within the coalition.
 

It was previously said that Scandinavian telecommunications company Telia had warned Latvian government that if the merge between LMT and Lattelecom does not go through, the company would sell its shares in those two companies, according to the information detailed in the letter sent by Telia Senior Vice- President Robert Anderson to the Latvian government.
 

Telia Group companies Sonera Holding and Telia Company own a total of 49% shares in LMT. Another 28% of shares in LMT are owned by Telia and Lattelecom.
 

Telia Group company Tilts Communications owns 51% of shares in Lattelecom. Latvian state owns 49% in Lattelecom.

BNN/LETA

07-11-2017
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