TeliaSonera to increase LMT stake; divest Lattelecom

21 Aug 2007

TeliaSonera has revealed that it has signed a Memorandum of Understanding (MoU) with the Republic of Latvia and the management buyout consortium of Lattelecom to increase its shareholding in Latvijas Mobilais Telefons (LMT) from 60.27% to 100%. The MoU also contains plans for TeliaSonera to divest its 49% stake in Lattelecom to the buyout consortium, while the Republic of Latvia will also sell its 51% stake in the fixed line telco to the group.