TeliaSonera submits a non-binding indicative offer to acquire 100 percent of LMT and Lattelecom in Latvia
- 2008-02-07 14:00 UTC
On February 6, 2008, TeliaSonera AB has in connection with ongoing discussions with the Republic of Latvia regarding the future shareholdings of Latvian Mobile Telephone Company (LMT), and Lattelecom, reconfirmed its strong interest to acquire 100 percent of both LMT and Lattelecom.
TeliaSonera has indicated its interest to acquire, from the Republic of Latvia, 51 percent of the shares in Lattelecom for a sum of approximately SEK 3,700 million (LVL 273 million), including Lattelecom’s 23 percent shareholding in LMT, and the state-owned 28 percent of the shares in LMT for a sum of approximately SEK 3,000 million (LVL 222 million). TeliaSonera’s current direct shareholding in Lattelecom is 49 percent and the direct and indirect shareholding in LMT is 60.3 percent.
The submitted non-binding indicative offer is subject to approval by the Board of Directors of TeliaSonera AB, and TeliaSonera has asked the Government of Latvia to submit its reply no later than February 29, 2008.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 3 pm (CET) on February 7, 2008.
For further information journalists can contact:
TeliaSonera AB, +46-(0)8-713 58 30
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.