TeliaSonera and the Latvian government have agreed to an appraisal of Latvian Mobile Telephone (LMT) and Lattelecom by two independent appraisers, Carnegie, the Swedish investment bank (for TeliaSonera) and Ernst & Young for the Latvian government. This is what TeliaSonera senior vice-president Kenneth Karlberg had to say:
After this interview was recorded, it was learned that several other applications to privatize LMT had been made, something which could complicate the situation.
It is expected, barring further complications, that the appraisal reports will be presented just after the October 7 elections in Latvia. The entire transaction - most likely a swap of Lattelecom shares plus some cash for the state's 28 % holding in LMT – could be completed within a year.