The Latvian government is holding talks with 23 potential investors on the acquisition of Swedish telecommunications group Telia’s shares in the Latvian telecommunication companies, Tet and Latvijas Mobilais Telefons (LMT), Economy Minister Viktors Valainis announced, LETA reported. He said that there was strong international interest in the deal and that the transaction was progressing largely according to schedule. However, Prime Minister Andris Kulbergs insisted that the deal was not ready to be implemented yet, LETA reported. Speaking in an interview with TV3, Kulbergs said that the strategic investor would need to unite the two companies and that the state should not be burdened with managing the business. Currently, Telia owns 49% of both Tet and LMT. Following the planned acquisition, the Latvian state would own around 75% and the new strategic investor 25% of both companies. The deal is expected to be completed during the second half of 2026, LETA reports.
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