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Home - The Government Will Raise the Question of the Sale of State Shares of LMT and Lattelecom

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The Government Will Raise the Question of the Sale of State Shares of LMT and Lattelecom

The Latvian government is planning to consider the resumption of the working group of three ministers to assess the possibility of selling the state-owned shares of the capital of telecommunications companies Latvijas Mobilais telefons (LMT) and Lattelecom on March 10.

A draft resolution of the Cabinet of Ministers prepared by the Ministry of Economics provides to reconfirm the working group and determine its costs.

The Ministers of Transport, Economics and Finance will have to negotiate with the Scandinavian concern TeliaSonera related to management of the capital shares of Lattelecom and LMT and development of these companies, including their reorganization, change of participants and other measures to enhance the economic value of enterprises and improve their performance.

The working group on the privatization of state capital shares of Lattelecom and LMT was established on December 30, 2010, but during this time there was a change of ministers.

Co-owners of the oldest Latvian mobile operator LMT are the Latvia State Radio and Television Centre (23%), the electronic communications company Lattelecom (23%), the Republic of Latvia in the face of the Ministry of Transport (5%) and TeliaSonera (49%).

Co-owners of Lattelecom are (51%) the Republic of Latvia and TeliaSonera (49%).