This year should be clear on the future of LMT and Lattelecom / Day



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In November 2018, then-Prime Minister Maris Kucinskis (ZZS) issued an order which, from November 2018 to February of this year, extended the development of Latvia's position on LMT and Lattelecom strategy for future action. However, with the change of government, the execution of this order is no longer topical.

Nemiro admitted that previous governments were acting in the wrong way, involving a broad working group on this issue. "I think it's a way to bury the idea instead of solving it. This question is fooled for a long time, so this year we want to come to a decision.

In your opinion, LMT Lattelecom the future should be addressed at the level of the shareholders of the two companies, namely the Ministry of Economy, the Ministry of Transport and the Swedish company. Telia.

"There are two levels to deal with this issue – shareholders and management of both companies, and there are different views at both levels. I believe the future of both companies needs to be addressed at the shareholder level," said Economy Minister.

So far Nemiro for LMT and Lattelecom the future was discussed separately with the Minister of Transport, Tali Linkait (JKP), and Telia However, before the joint meeting of all shareholders, no solution is available at the moment. "Let's hear the vision of all shareholders on the future of the two companies and agree on a vision for future development," adds Nemiro.

Asked if shareholders could decide on LMT and Lattelecom As a result of the merger, the Minister of Economy admitted that such a scenario is not currently being considered, but it is not excluded.

"At the moment, we are not negotiating the merger of the two companies, but I would like to talk to other shareholders about this and other issues." Before deciding on a merger, you need to know what the benefits will be. this proposal. " Minister of Economy stressed.

According to Nemiro, he talks to the other LMT and Lattelecom The key issues for shareholders will be how to provide easier-to-use services and how to promote the development of both companies.

"When everything is set up, we will see the direction, but at the moment it is not known, because it was not decided by the shareholders," said Economy Minister.

Telia Company is the largest shareholder of LMT, where it directly and indirectly holds about 60%. Telia Company also owns 49% Lattelecom actions.

Lattelecom The Group's turnover in 2018, according to preliminary data, was EUR 212 million, an increase of 8% over a year earlier, while the Group's profit was EUR 42 million.

In 2018, LMT worked with a consolidated turnover of 216 million euros, 6% more than in the previous year, but the group's profit reached 29 million euros.

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