TeliaSonera focuses on increasing stakes in Latvian operators

09 August 2013 | Kavit Majithia

Nordic operator TeliaSonera has said it is focussed on increasing its stake in two Latvian companies and back the sector’s plans to merge fixed-line and mobile operations.

The Latvian state said it was considering a merger between fixed line network operator Lattelcom and mobile operator Latvijas Mobilais Telefons (LMT) after reports in the country claimed the government could be set to divest its stakes in both companies.

TeliaSonera has claimed it would be interested in increasing its presence in Latvia because of good potential in the country.

Kennet Radne, head of Baltics mobility services at TeliaSonera told Reuters: "We believe there are synergies between these companies and we believe there are opportunities to get these companies to work closer together."

The Nordic operator made a bid in 2008 to gain full ownership in both companies, but it was rejected by the government because of anti-competition concerns.

Radne confirmed TeliaSonera remains interested in an full acquisition, and the company presently owns a 49% and 60.3% stake in Lattelecom and LMT respectively.