Sistema looking at Latvian takeover

14 Jan 2014

Russian firm Sistema is considering acquiring a stake in Latvian telco Lattelecom, despite recent reports that the Latvian government has no immediate plans to divest its majority stake in the operator, Bloomberg writes, citing correspondence with the Moscow-based company. Latvian economic minister Daniels Pavluts confirmed yesterday that the government has received an expression of interest from Sistema regarding Lattelecom, whilst Sistema noted that it was ‘evaluating different opportunities in the market, including this one.’ As previously reported by CommsUpdate, a recent report commissioned by the Latvian government noted that the sale of the state’s shares in Lattelecom and Latvijas Mobilais Telefons (LMT) would not be in the public interest.

According to TeleGeography’s GlobalComms Database, Sistema owns 50.8% of Russian telco Mobile TeleSystems (MTS) which has operations in Ukraine, Turkmenistan, Armenia and Belarus.

Latvia, Sistema, Tet (Lattelecom Group)