Telia Company to assess its approach in Latvia, after cooperation with the Government of Latvia stalls

The Government of Latvia has informed Telia Company it no longer intends to implement the Memorandum of Understanding on improving cooperation as shareholders in LMT and Tet. Telia Company will now reconsider its approach to investments in Latvia.

The memorandum, signed in 2018, outlined the joint aims of Telia Company and the Republic of Latvia regarding the two companies. It also laid out steps to develop a joint long-term strategy, focused on the implementation of good corporate governance practices, improvement of decision-making and clearer strategic supervision of the companies’ activities. This work has now been suspended.

Telia Company will consider the situation and assess options for implementation of its strategy in the Latvian market.