Latvian PM criticizes failed LMT and Tet buyout from Telia

Prime Minister Andris Kulbergs has criticized Economy Minister Viktors Valainis and the Ministry of Economics over the failed attempt to buy out shares of LMT and Tet from the Swedish telecommunications company Telia.

Kulbergs stated that approximately 13.6 million euros have been spent on the project with “zero” results. He noted that despite efforts to hold competitions and create holdings, no strategic international investor has been secured, and no non-binding offers were received by the July deadline.

The Prime Minister called for an immediate halt to consultant contracts and urged direct negotiations with the companies to find a real path toward merger. He emphasized that the goal should be to merge the entities and attract a strategic industry partner rather than a purely financial investor.