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Cuts, sales and falling share prices: How is Swedish giant Telia doing?

Сокращения, продажа и падение цен на акции. Как идут дела у шведского гиганта Telia?

In recent years, Telia, the largest telecoms player in Scandinavia and the Baltics, which also partially controls the strategically important Tet and Latvijas Mobilais Telefons (LMT) for Latvia, has had mixed fortunes. The company’s share price, although it has risen over the past year, has been declining in the long term. This year, the company began a restructuring, selling its Danish business and planning to lay off 3,000 employees by the end of the year. While the Latvian government and Telia are secretly discussing the future of the two Latvian companies, Delfi Bizness looks into how the Swedish giant is doing financially and on the stock exchange. In Latvia, Telia’s subsidiary Tilts Communications owns 49% of Tet. In turn, LMT is 49% owned by Telia and its subsidiary Sonera Holding. Another 23% of LMT shares are owned by Tet. From time to time, it is reported in the public space that Telia and the Latvian side have different views on how to manage and develop the two companies. In 2017, the merger of LMT and Tet, which Telia had repeatedly called for, fell through. At the time, concerns were expressed that in order to comply with European competition rules, it would be necessary to give up part of the infrastructure or accept other important restrictions. In turn, the counterargument was that the country does not need two companies operating in similar industries. Seven years later, both sides have again started negotiations on what to do with the companies and their participation in them. Delfi Bizness introduces the history of the financial giant itself and its financial indicators.

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