Latvia Approves Telecoms Share Swap With TeliaSonera

Latvia's government has approved its largest privatisation after years of indecision. The privatisation of LMT, a mobile phone operator, looks set to come in the form of a share swap with TeliaSonera, a telecommunications provider in the Nordic and Baltic countries. TeliaSonera would receive the government's 51% stake in LMT, a mobile phone operator, and the government would receive TeliaSonera's 49% stake in Lattelecom, a fixed-line operator, plus a payment of around LVL130mn (US$293mn). The government then plans to sell the 49% stake in Lattelecom to a private investor when the deal is completed as well as the other 51%

To read the full article, please choose one of the following options: