Finance / Latvia
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Latvia Approves Telecoms Share Swap With TeliaSonera
April 2008 | Privatisation News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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%