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…
The Latvian state is in talks with three potential investors in the country’s national air carrier, airBaltic, Prime Minister Andris Kulbergs announced, LSM reports. Speaking in an interview with Latvijas Radio, Kulbergs said that the state should no longer be involved in the aviation business. Also, he insisted that the state’s share in shouldering airBaltic’s…
The Latvian government is in talks with a strategic investor for the country’s ailing national airline, airBaltic, Prime Minister Andris Kulbergs revealed, Reuters reported. He said that the potential investor was “a serious partner,” but refused to indicate what stake the investor could acquire. The state’s main condition was that the investor maintain airBaltic’s hub…
The Latvian parliament, the Saeima, has passed amendments blocking investors from Russia and Belarus from obtaining temporary residence permits in Latvia, LETA reports. The amendments close a legal loophole that allowed Russian and Belarusian investors to obtain residence permits through an investment programme for alternative investment fund managers. Meanwhile, a parliamentary commission recommended setting quotas…
Latvia’s Office of Citizenship and Migration Affairs (PMLP) issued 19,900 temporary residence permits to non-EU nationals who invested in the Latvian economy in the period from 1 July 2010 to the end of 2024, LETA reported. According to the Ministry of Economy, the so-called golden visa programme was “an important instrument” for attracting foreign capital…
The Estonian government has issued EUR 1bn worth of bonds to cover the state budget deficit and to provide more liquidity, ERR reports. The bonds mature in May 2036 and carry a yield to maturity of 3.609%. More than 100 investors, mostly banks, pension funds, and European investment funds, subscribed to over EUR 2.2bn in…
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,…
Investors and listed companies are leaving Estonia’s Nasdaq Tallinn stock exchange, ERR reports. Joakim Helenius, chairman of Trigon Capital, which handles the Norwegian Oil Fund’s investments on Nasdaq Tallinn, noted that foreign investors had been pulling money out of the Estonian stock market for several years and no new foreign investors were coming in. He…
German aviation group Lufthansa Group will become a strategic investor in Latvia’s national air carrier, airBaltic, LSM reports. Under the deal, Lufthansa will acquire 10% of shares in airBaltic for EUR 14mn. The group plans to close the deal in the second quarter of 2025, subject to regulatory approval. The shares will be converted into…
