Telecoms merger as Tet buys Telia Latvija

Take note – story published 2 years ago

Telecoms giant Tet and the company Telia on Tuesday, January 4, signed a purchase agreement for shares of Telia Latvija Ltd. Tet thus becomes the sole owner of Telia Latvija.

The agreement still requires the approval of the Competition Council.

The acquisition deal amounts to EUR 10.75 million, including the refinancing of the Telia Company loan.

Tet Board Chairman Uldis Tatarčuks said on the deal that combining the expertise of the two companies will enable the development of existing services and create more rapid new, modern business solutions, thereby also jointly strengthening regional leadership, which will also expand the export potential of services.

On the other hand, Chairman of Telia Latvija Mikus Ozols noted that the two companies have already cooperated together on various projects and it is apparent that the knowledge, skills, and tools available to the teams allow contribution and development.


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