A consortium led by US-based JPMorgan will advise on the Latvian state’s buyout of Swedish telecommunications group Telia’s shares in the Latvian telecommunications companies, Tet and Latvijas Mobilais Telefons (LMT), BNS reports. Under the agreement, the consortium, which besides JPMorgan includes A&O Shearman, Deloitte, Hardiman Telecommunications, TEGOS, and WALLESS, will advise Latvia’s state-owned energy group, Latvenergo, the Latvian State Radio and Television Centre (LVRTC), and state asset management company Possessor on the buyout deal. The Ministry of Economy expects the deal to be signed in July 2026 and a new strategic investor for Tet and LMT to be found in the second half of 2026. After the deal, each party could own 25% of shares in both Tet and LMT.
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