What this means is that the Latvian government -- seriously -- is telling the Swedes to find someone to pay for sharing a bed with a proven capricious majority owner. Under Latvian law, the government has the right of first refusal, which takes us back to the situation before the MBO proposal, when TeliaSonera offered, in effect, to let Lattelecom be nationalized in return for getting 100 % of Latvian Mobile Telephone and even paying cash to the government.
Latvia has a new goverment, but the muddling, bumbling and equivocating on the privatization of Lattelecom has not stopped.
Is there a serious private investor -- a mutual fund, whatever-- never mind a telecoms operator, who would share owning and running a fixed-network only company with this kind of co-owner? Unlikely. You have something that looks very much like a stranded investment, TeliaSonera.