TeliaSonera targets Baltic expansion

November 27, 2013 07.20 Europe/London By Chris Dziadul

TeliaSonera would like to gain majority, if not 100%, control of Lattelecom and Latvian Mobile Telephone (LMT).

Quoted by DB, Kenets Rodne, head of LMT and the TeliaSonera Mobility business in the Baltic Republics, said that such a move would be a very meaningful step.

Ultimately, Latvia, the Nordics and Baltic countries are the company’s home market and it wants to maximise its share of the companies it has a stake in.

On the other hand, owning 100% of a company’s shares is not a prerequisite for doing business.

TeliaSonera currently owns 49% of the incumbent Lattelecom, with the Latvian state holding 51%. The mobile operator LMT is meanwhile backed by a subsidiary of TeliaSonera (49%), Lattelecom (23%), Latvian State Radio and Television Centre (23%) and Latvian state (5%).