Telia Signs Deal To Sell Telia Latvia To Tet For 10.75 Mln Euros

Swedish telecommunications company Telia Company AB (TLSNY.PK) said Tuesday that it signed an agreement to sell Telia Latvija SIA, an electronic communication services provider, to Tet SIA, a Latvian internet service provider, for 10.75 million euros in a cash and debt free basis.

The transaction is expected to close during the second quarter of 2022.

Andreas Ekström, Telia Company Head of Latvia, commented: "…We have now reached an agreement with Tet who with this acquisition will strengthen its positions within the enterprise segment with Telia Latvia's network and technology assets and highly skilled employees..."

Tet is a local technology and entertainment operator, which offers a full range of ICT and pay-TV services to households, businesses, the government, and municipal institutions, as well as electricity and other services.

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