Telia and the government will improve the strategic coordination of LMT and Lattelecom in Latvia

Johan Dennelind, President of Telia, and Māris Kučinskis, Prime Minister of the Republic of Latvia, sign a Memorandum of Understanding on Improving Cooperation between LMT Shareholders and Lattelecom [19659002]as well as the next steps to be taken in the coming months to develop a common long-term strategy. The focus is on implementing good corporate governance practices, improving decision-making and providing clearer strategic oversight of business activities.

Similarly, the shareholders agreed to work towards the creation of an innovation center. The center should pool the resources of Latvian companies, Telia and other partners. The purpose of the Innovation Center is to promote Latvia's innovation capacity, accelerate its digital development and promote the research and development efforts of LMT and Lattelecom. "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 the rapidly changing digital world ". J. Dennelinds "The Memorandum of Understanding is a step towards better coordination of shareholder interests, increasing the long-term competitiveness of LMT and Lattelecom and giving companies the opportunity to play a central role in digitization efforts in Latvia, "says J. Dennelinds

. By signing the Memorandum of Understanding, the shareholders of Lattelecom and LMT will clearly demonstrate their willingness to work in Latvia, doing their utmost to develop these companies, promote information and communication technologies and development telecommunications, thus supporting the national economy as a whole. 19659003] 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.

Telia Company is the principal shareholder of LMT, which directly and indirectly holds approximately 60% of the shares. Telia directly owns 49% of Lattelecom's shares.