Tet acquires telecommunications company Telia Latvija

04.01.2022

Technology and entertainment company Tet and one of the leading telecommunications companies in the Nordic and Baltic countries Telia Company have signed a purchase agreement for the shares of Telia Latvija. Tet thus will become the sole owner of Telia Latvija.

The agreement still requires the approval of the Competition Council. The deal value amounts to EUR 10.75 million euro, including the refinancing of the Telia Company loan.

Adding Telia Latvija to Tet Group companies will promote its competitiveness among other companies on a global level. It will further the development of existing services and provide a more rapid creation of new solutions that would meet the requirements of modern business. It will also strengthen regional leadership, which will expand the potential of service export.

Telia Latvija was founded in 1992 and has a share capital of 35.35 million euros. The company offers solutions for telecommunications, cloud services and media services.

Telia Company provides communication services to private persons and businesses. The company was founded in 1853 and its shares are listed on the Nasdaq Stockholm and Nasdaq Helsinki stock exchanges.

Our client Telia Company was advised by Ellex team in Latvia: Senior partner Raimonds Slaidins, Associate partner Maris Brizgo, Senior associate Edvijs Zandars and Junior associate Gabriela Fomina.