The Latvian incumbent Tet has completed the acquisition of a 100% stake in Telia’s Latvian subsidiary.
According to Tet, this follows the granting of permission for the transaction by the country’s Competition Council.
Commenting on the development, “Uldis Tatarcuks, chairman of the board of Tet, said: “Tet and Telia Latvia employ highly qualified experts, whose combined knowledge solutions will provide an opportunity to strengthen regional leadership and expand the export potential of services. We will work together to develop stable and reliable data transmission solutions, cloud and data centre services, IT security and video streaming solutions. to develop the next generation of tools for business in Latvia today and tomorrow”.
Mikus Ozols, chairman of the board of Telia Latvia, added: “We are pleased to join forces with the industry leader to become stronger, more powerful and offer an even wider range of customers. Our experience so far has shown that the knowledge, skills and tools of both teams complement each other clients”.
Andreas Ekstroms, CEO of Telia Company in Latvia, continued: “We are pleased to conclude the sale of Telia Latvia with Tet. The Telia Latvia network, technology active and highly qualified employees will help Tet strengthen its position in the business segment. Latvia has an interesting ICT market and Telia Tet and LMT will continue to contribute to the digitalisation of Latvia”.
As previously reported by Broadband TV News, Telia agreed to sell its Latvian subsidiary to Tet in January this year for €10.75 million on a cash and debt free basis.
