TGS Baltic advised Tet on acquisition of shares of Telia Latvia
On 4 January 2022, the technology and entertainment company Tet and one of the leading telecommunications companies in the Nordic and Baltic countries Telia Company, signed an agreement on the purchase of shares in SIA Telia Latvija. To conclude a transaction that envisages Tet becoming the sole participant of SIA Telia Latvija, a merger permit from the market supervisor – the Competition Council – is required. The transaction amounts to EUR 10.75 million, including the refinancing of Telia Company loan.
TGS Baltic and Nauris Grigals, Partner and Head of the Corporate and Commercial Practice Group of TGS Baltic in Latvia, provided the necessary legal assistance in the process of preparing Tet share purchase agreement, negotiating the transaction and concluding the agreement.
Technology and entertainment company Tet creates solutions for the daily public needs both at work and at home, providing a wide and reliable range of communication and entertainment services - Internet, television, self-created Latvian content, electricity, cloud services and data center solutions, IT security and hardware maintenance, the most essential business tools and tools in the cloud. Tet Group also includes Citrus Solutions, Data Experts, Helio Media, Lattelecom and Baltijas Datoru akadēmija (Baltic Computer Academy).
Telia Latvija was founded in 1992 and offers innovative, secure and flexible telecommunications, cloud and media services solutions for business, with the service portfolio ranging from software licence rental and data network services to high-level data storage, IT security and online video solutions.
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