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Photo – LETA / Paula Čurkste Illustration for illustrative purposes. Lattelecom interactive TV "Helio iTV"
Prime Minister Maris Kucinskis (ZZS) and Telia Company Chairman Jouhann Dennelinds signed on Thursday a memorandum of understanding on SIA Lattelecom The LETA agency informed the cabinet of Prime Minister
The decision on the conclusion of the memorandum was approved by the Council of Ministers As noted by the Prime Minister's Office, the Memorandum of Understanding does not constitute an international agreement and does not create any of the parties . Rights and obligations in international law – this document is a letter of intent, a commitment from both parties to sit down at the negotiating table to develop a mutually attractive strategy for future cooperation, development Lattelecom and LMT
solve only s The financial expenses for the activities mentioned in this document can only be foreseen in separate written agreements between the parties.
The Kuching section explains that such a step has been taken to use resources more efficiently, avoid duplication and improve the efficiency of basic services. increase the Lattelecom and LMT innovation capacity and activate the development of a new global exportable product, as well as fully implement the principles of good governance.
Prime Minister stressed that it is necessary that companies develop successfully
"Last November, the Cabinet decided that Lattelecom and LMT would not be merged, and now the two owners – the Latvian state and the Telia company – should work together to develop these companies By developing and signing a memorandum of understanding, the shareholders will clearly show their willingness to work in Latvia, develop their companies, promote the development of information and communication technologies, thus contributing to the national economy as a whole. "1965a007 Telia The LETA agency indicated that the agreement between the two shareholders on Long-term strategy, innovation priorities and good governance practices are essential for businesses to operate more efficiently and with a goal in mind. clear in the rapidly changing telecommunications and digital sector. to increase the competitiveness of LMT and Lattelecom in the long term and to give companies the opportunity to play a key role in digitization efforts in Latvia, for the benefit of customers, society and the national economy as a whole, "acknowledged Dennelind.
The implementation of the protocol of agreement will take place in the coming months and experts from both parties will be involved in the process.
It is also emphasized that the commitment to continue the joint work of development of strategic cooperation between the two companies. Memorandum signatories are committed to developing a unified strategy for achieving synergies between Lattelecom and LMT companies, including the development and implementation of a next generation communications strategy, the creation of 39, innovative excellence, active cooperation with science.
how to link the cooperation of large Latvian companies with science, thus creating new globally competitive products, relevant at the global level. This is a good opportunity to streamline this process by allocating even more resources to the resources of all the companies involved in the development of new exported products, "said Kuchinsky
Coordinating the Memorandum of Understanding. The agreement was mandated to provide the regional center.The head of Latvia, Kenneth Rodney, told LETA that the priority of the company Telia in Latvia is to stay in its market by negotiating with the Latvian government the future of The company LMT and Lattelecom
"Our desire and priority is to stay in Latvia." Asked about the strategy of the company, said Rodne According to Rodney, the company Telia does not currently join LMT and Lattelecom. Main objective now is to try to establish good cooperation between the two companies. "That's what customers want," said Rodne.
The current strategy of the company Telia in Latvia is also to ensure that the government has common objectives and strengthen the management of LMT and Lattelecom. A representative of a Nordic company pointed out that the strategy of modern telecom companies is to develop synergies in core businesses or "old" companies, as it provides funds for innovation
.
Telia is the largest shareholder of LMT, where it holds, directly and indirectly, approximately 60%. Telia directly owns 49% of Lattelecom's shares.
The consolidated business figure of Lattelecom in 2017 was 195.67 million euros, or 1.1% or 2.4 million more than in 2016, while its result consolidated increased by 26.4% or 8.5 million euros to reach 40.7 million euros
. In 2017, the LMT group 's turnover reached 204.2 million euros, or 7% more than in 2016. Group profit last year was 33, 3 million euros, against a profit of 22.3 million euros a year ago
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