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The decision on the conclusion of the memorandum was approved by the Council of Ministers. As the Prime Minister points out, the Memorandum of Understanding does not constitute an international treaty and does not create any rights or obligations for any of the parties from the point of view of international law – this document is a memorandum d & # 39; intent. It is a commitment of both parties to sit down at the negotiating table to develop mutually attractive development strategies for future cooperation, Lattelecom and LMT.
During the process of implementing the memorandum, potential controversies were only resolved through negotiation. The financial expenses of the activities mentioned in this document can only be foreseen in separate written agreements between the two parties.
The Kuching section explains that such a step has been taken to use resources more efficiently, avoid duplication and improve the efficiency of services. The ability of Lattelecom and LMT innovation and activate the development of a new global exportable product, as well as to fully implement the principles of good corporate governance
The Prime Minister stressed that it is necessary for companies to continue to develop and cooperate with each other. 19659002] "In November of last year, the Council of Ministers 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 will clearly express their willingness to work in Latvia, doing their utmost to develop these companies, promote the development of information and communication technologies, thus contributing to the national economy. as a whole, "said Kuchinsky. The agreement between the two shareholders on the long-term strategy, innovation priorities and good governance practices is essential for companies to operate more efficiently and with a clear objective in the telecommunications sector and of the rapidly changing digital. "Long-term competitiveness and the opportunity for companies to play a key role in digitization efforts in Latvia, for the benefit of customers, society and the national economy as a whole," said Dennelind [19659005]. and the process will involve experts from both sides.
The signatory parties to the memorandum commit to developing a common strategy for the operation of Lattelecom and LMT companies to create synergy, including strategies for the next generation of communication systems.
"We have been discussing for a long time how to link the cooperation of big Latvian companies with science, thus creating new internationally competitive products, relevant at the global level, is a good opportunity to streamline this process by allocating even more resources from the resources of all companies involved in the development of new products exported, "said Kuchinsky.
The coordination of the Memorandum of Understanding aims at the new regional director of Telia in Latvia Kenneth Rodne said last April 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 stock corporation LMT and Lattelecom.
"Our desire and our priority is to stay in Latvia," Rodne asked about the company's strategy. According to Rodney, Telia does not currently join LMT and Lattelecom. The main objective is now to try to establish a good cooperation between the two companies. "That's what customers want," Rodne said.
The current strategy of the Telia company 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 the "old" core businesses because it provides funds for innovation.
The Latvian government has already decided not to support the merger of LMT and Lattelecom.
Telia Company is the largest shareholder of LMT, where it holds directly and indirectly approximately 60%. Telia directly owns 49% of Lattelecom shares
Lattelecom's consolidated business figure in 2017 was 195.67 million euros, or 1.1% or 2.4 million more that in 2016, while its consolidated profit increased by 26.4%, or 8.5 million euros, to reach 40.7 million euros
The figure of. The LMT group's business in 2017 reached 204.2 million euros, or 7% more than in 2016, while the group's profit amounted to 33.3 million euros. last year, compared with a profit of 22.3 million euros a year ago.
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