Tet to secure financing to buy out Telia's shareholdings
Latvian telecommunications company Tet will prepare a solution and raise financing to buy out the shares that Sweden's Telia Company holds in LMT and in Tet itself. The solution must comply with a Cabinet of Ministers decision.
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Telecommunications company SIA Tet will prepare a solution and attract the necessary financing to buy out the shareholdings that Sweden-based Telia Company holds in two Latvian companies: SIA Latvijas mobilais telefons (LMT) and Tet itself. Tet representatives told the news agency LETA.
The company said the solution must comply with a decision of the Cabinet of Ministers, the Latvian government, and must be feasible in practice.
The source provides no further details: the value of the transaction, the sources of financing, the timeline for the buyout and the content of the Cabinet decision are not mentioned. For now, it is clear only that Tet has committed to preparing a solution and securing the funding so that Telia Company's shareholdings can pass to new owners.
