# Latvian telecommunications share buyout dispute

> Live situation record from CLSTR: https://clstr.news/situations/latvian-telecommunications-share-buyout-dispute
> Updated: 2026-10-19T05:47:45.000Z. Sources: 6. Developments: 4.

The Latvian government has faced internal conflict regarding the attempt to repurchase shares of telecommunications firms Tet and LMT from the Swedish company Telia.

Prime Minister Andris Kulbergs criticized the Ministry of Economics, alleging that approximately 13.6 million euros had been spent on the project with “zero” results. He noted that no strategic international investors had been secured by the July deadline and called for an immediate halt to consultant contracts. Kulbergs advocated for a merger of the two entities to attract a strategic industry partner rather than a purely financial investor.

Following these criticisms, the Prime Minister halted the share buyout process. Reports indicate that while total costs could potentially reach 13.6 million euros, expenditures as of August 31 were approximately 4.47 million euros. Economy Minister Viktors Valainis disputed the Prime Minister’s claims, stating that the figures provided did not align with reality and maintaining that continued research and company valuation remain necessary.

In a strategic shift, the government called on LMT and Tet to evaluate buying back the Telia shares themselves, moving away from previous plans involving state entities like Latvenergo and LVRTC. LMT indicated readiness to submit proposals, suggesting funding through internal resources, bank financing, or strategic investors in satellite and defense technologies.

By late October, Economy Minister Viktors Valainis stated that the government has reached a consensus on two objectives: the buyout of Telia’s stakes and the subsequent merger of Tet and LMT. While the government initially sought a solution without direct state budget involvement—a model reportedly “approximately 90% complete”—officials are now positively evaluating the use of state funds. Valainis indicated that purchase agreements could potentially be finalized by the end of the year, though the final progression depends on political decisions and the commitment of the new government.

## Timeline

### 2026-10-19: Latvia considers buyout and merger of Tet and LMT

Latvian Economy Minister Viktors Valainis suggests buyout agreements for Tet and LMT shares from Telia could be signed by year-end, pending political decisions and financing models.

2 sources. https://clstr.news/cluster/latvia-considers-buyout-and-merger-of-tet-and-lmt

### 2026-10-14: LMT and Tet urged to buy back Telia Company shares

The Latvian government has urged LMT and Tet to explore buying back shares held by Telia Company, with proposals due by November 6 to ensure the security of strategic infrastructure.

3 sources. https://clstr.news/cluster/lmt-and-tet-urged-to-buy-back-telia-company-shares

### 2026-10-11: Latvia halts Tet and LMT share buyout from Telia

Latvian Prime Minister Andris Kulbergs has suspended the buyout of Telia's shares in Tet and LMT following concerns over millions of euros spent on consultants without reaching a final agreement.

4 sources. https://clstr.news/cluster/latvia-halts-tet-and-lmt-share-buyout-from-telia

### 2026-09-30: Latvian PM criticizes failed LMT and Tet buyout from Telia

Latvian PM Andris Kulbergs criticized the failed LMT and Tet share buyout from Telia, citing 13.6 million euros in wasted funds and a lack of strategic investors.

2 sources. https://clstr.news/cluster/latvian-pm-criticizes-failed-lmt-and-tet-buyout-from-telia

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Cite as: Latvian telecommunications share buyout dispute. CLSTR, https://clstr.news/situations/latvian-telecommunications-share-buyout-dispute