The telecommunications and IT company SIA "Tet" should be divided and the telecommunications business of the mobile communications company SIA "Latvijas mobilais telefons" (LMT) should be sold, which will be owned in equal shares by the Latvian state and the Swedish company "Telia Company" ("Telia"), and the state will completely retain the construction company Citrus Solutions of the Tet group and the electricity trading business. The next step will be an IPO and placement on the stock exchange of at least 20% of LMT shares. This follows from the proposal prepared by Telia. Given the secrecy of the document, it is not reported to what extent this proposal was analyzed in the information report prepared by the Ministry of Economics on future development scenarios and the desired level of participation of the Latvian state in LMT and the Tet group of companies and whether the state considers it acceptable. Responsible officials and politicians, under the pretext of confidentiality, do not comment on the contents of the restricted information report, but Economy Minister Viktor Valainis told SUMMER that the working document is based on market research carried out by consultants invited by SIA "Publisko aktiva pārvaldītājs Possessor". According to Valainis, the results of the market research and the consultants' vision will be presented to the Cabinet of Ministers for further work and consideration in order to come to a constructive and most appropriate solution in the interests of the Latvian state and the information and communication technology (ICT) sector. Previously, a complex management scheme for Tet and LMT was created, a change to which the two shareholders – the Latvian state and the Swedish company Telia – have still not been able to agree on.
