Tet and Telia Latvija merger gets green light

Take note – story published 1 year ago

The Competition Council (KP) has allowed Tet to purchase Telia Latvija, KP said on May 20.

KP decided on the authorization of the merger, concluding that the merger would not result in the strengthening of Tet's dominant position and would not significantly reduce competition in any of the affected markets.

Tet already exercises a decisive influence in the following companies: “Helio Media”, which implements interactive television services, “Citrus Solutions”, which deals with the design and construction of engineering networks, “Baltic Computer Academy”, which provides training solutions and advice, as well as “Data Experts”, which provides technical support and IT security solutions.

“Telia Latvija”, meanwhile, is a provider of telecommunications services that offers a variety of IT outsourcing services, including Internet access, data transmission, data center services, cloud services, and media solutions services.

As reported by LSM, in January 2022, Tet and Telia signed a purchase agreement for shares of Telia Latvija Ltd. Tet thus becomes the sole owner of Telia Latvija. The acquisition deal amounts to EUR 10.75 million, including the refinancing of the Telia Company loan.

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