Telia to Take Stock After Latvian Government Rejects Merger Proposal
Sweden-based telecom operator Telia Co. AB (TELIA.SK) said that it would assess its options after the Latvia government rejected its proposal to merge two Latvian companies it had a stake in.
Telia owns a 60.3% stake in mobile phone operator LMT and a 49% stake in fixed-network company Lattelecom.
The Swedish telecommunications company called the result disappointing, and said that the decision is detrimental to both the Latvian companies as well as the economy as a whole.
"Over the past decade, Telia Company has put forward every single option to the government--to buy, to sell, to merge and different ownership structures, which have now all been rejected," it said, adding that it would now take stock of the situation and the details of the government's decision and assess its options.
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(END) Dow Jones Newswires
November 07, 2017 13:55 ET (18:55 GMT)