Telia Company to sell Latvia B2B unit to Tet

News General Latvia 4 JAN 2022
Telia Company to sell Latvia B2B unit to Tet

Telia Company has agreed to sell its subsidiary Telia Latvia to the operator Tet for an enterprise value of EUR 10.75 million on a cash- and debt-free basis. The price is equal to 10x estimated EBITDA in 2021. The transaction is subject to customary regulatory approvals and is expected to close during the second quarter of this year.

Telia Latvia was founded in 1992 and is a B2B telecommunications services provider. The company has 46 employees and offers large businesses across Latvia telecommunications services, cloud services, data center solutions and media solutions.

Tet 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. Tet is owned by the Republic of Latvia (51 percent) and Tilts Communications (49 percent), a wholly owned Telia Company entity. In addition to its minority holding in Tet, Telia Company also owns 60.3 percent in the Latvian mobile operator LMT.

Categories:

General

Companies:

LMT,  Telia,  Media Solutions,  Tet

Countries:

Latvia

Tags:

Enterprise, Financial funding, M&A buyouts & divestments

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