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Closing: Tet's Acquisition of Telia Latvia Shares Now Closed

Closing: Tet's Acquisition of Telia Latvia Shares Now Closed

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On June 21, 2022, TGS Baltic announced that Tet’s acquisition of shares in Telia Latvija (reported by CEE Legal Matters on January 10, 2022) has now closed, following regulatory approval.

According to TGS Baltic, "On May 12, 2022, the Latvian Competition Council permitted the merger by Tet acquiring control over Telia Latvia without binding commitments. On May 31, 2022, Tet completed the acquisition of Telia Latvija, thus becoming the owner of 100% of shares in Telia Latvija."

As previously reported, TGS Baltic advised Tet on its acquisition of shares in Telia Latvija, with Ellex advising the sellers.

Tet is a technology and entertainment company. The Tet Group also includes Citrus Solutions, Data Experts, Helio Media, Lattelecom, and Baltijas Datoru Akademija (Baltic Computer Academy). Telia is a telecommunications company operating in the Nordic and Baltic countries.

TGS Baltic’s updated team included Partners Nauris Grigals and Andra Rubene and Associates Vladlena Rudusane-Simica and Eliza Silina.

The Ellex team in Latvia included Senior Partner Raimonds Slaidins, Associate Partner Maris Brizgo, Senior Associate Edvijs Zandars, and Junior Associate Gabriela Fomina.