Latvia extends deadline for selling stake in telcos

7 Mar 2007

The Latvian government has extended a deadline for making a decision regarding state-owned shares in Latvijas Mobilais Telefons (LMT) and Lattelecom until 1 April, according to BNS news agency. The Economics Ministry was expected to submit its proposals by the start of February but the ministry asked to extend the deadline by two months. Last summer TeliaSonera made an offer to buy the state’s 51% stake in Lattelecom and 28% in LMT, BNS said. Latvian Economics Minister Jurijs Strods told BNS that negotiations with TeliaSonera were ongoing but that ‘None of the ideas I have seen or generated myself so far seems attractive’.