OREANDA-NEWS. April 18, 2008. During its extraordinary sitting, the Cabinet of Ministers considered the possible sale of shares of Lattelecom Ltd. and Latvijas Mobilais Telefons Ltd. (LMT) held by the state, reported the Official website www.mk.gov.lv.

The Government reached an agreement concerning the privatisation of the telecommunication company Lattelecom by a share exchange transaction with the Scandinavian concern TeliaSonera.

No voting took place during the sitting but the Minister for Economics and the Minister for Justice included their special opinion in the protocol decision of the Cabinet of Ministers.

On April 22 it is planned that the Government will consider a draft letter to be addressed to TeliaSonera.

If TeliaSonera would approve such an exchange transaction, the Privatisation Agency together with the Latvia State Radio and Television Centre (LVRTC) will be assigned to elaborate legal provisions for the sale of 49% of Lattelecom shares and for selection of the possible purchasers. The sale price will not be less than the price paid by the LVRTC.