06 JAN, 2022

On January 4, 2022, Telia Company entered into an agreement to sell 100% of the shares in Telia Latvia to the fixed network operator Tet – in which Telia Company owns 49% of the shares.

Telia Latvija was founded in 1992 and is today a leading business-to-business telecom services provider, offering solutions to large businesses across Latvia within telecommunications services, cloud services, data center solutions and media solutions. The company has 46 employees.

Tet is a local technology and entertainment operator in Latvia, offering a full range of ICT and pay-TV services to households, businesses, the government and municipal institutions, as well as electricity and other services.

Andreas Ekström, Telia Company Head of Latvia, says: “We have run a competitive auction process for the sale of Telia Latvia during the autumn where a significant number of potential buyers were invited. We are pleased that we have now reached an agreement with Tet who with this acquisition will strengthen its positions within the enterprise segment with Telia Latvia’s network and technology assets and highly skilled employees. Latvia is a highly interesting ICT market and Telia Company remain committed to continue contributing to the digitalization of Latvia with our engagement in Tet and LMT.”

Mikus Ozols, Chairman of the Board of Telia Latvia: “With Tet we have been cooperating on different projects before and we see that the knowledge, skills and tools at the disposal of the teams allow them to complement each other, providing better offer opportunities to customers”.

The transaction is subject to customary regulatory approvals and is expected to close during the second quarter of 2022.