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Latvian telecommunications share buyout dispute

Updated 2 times since CLSTR started tracking revisions of this situation.

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2026-10-14 12:54 UTC → 2026-10-19 07:41 UTC · added removed

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 recent shift in strategy, strategic shift, the government has called on LMT and Tet to evaluate the possibility of buying back the Telia shares themselves, moving away from previous plans involving state entities like Latvenergo and LVRTC. LMT has indicated it is prepared readiness to submit proposals, suggesting the transaction could be funded funding through internal resources, bank financing, or by attracting strategic investors interested in satellite and defense technologies. Both companies are required to submit proposals by November 6, with By late October, Economy Minister Viktors Valainis stated that the Ministry government has reached a consensus on two objectives: the buyout of Economics expected to report results to Telia’s stakes and the subsequent merger of Tet and LMT. While the government by November 10. If initially sought a buyout cannot 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 secured, finalized by the government intends to merge LMT end of the year, though the final progression depends on political decisions and Tet without delay. the commitment of the new government.

Versions

  1. 2026-10-19 07:41 UTC Latvian telecommunications share buyout dispute
  2. 2026-10-14 12:54 UTC Latvian telecommunications share buyout dispute
  3. 2026-10-11 18:01 UTC Latvian telecommunications share buyout dispute

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