Telia Company has completed the sale of Telia Latvija to Tet at an enterprise value of EUR 10.75 million on a cash and debt free basis.
The price represents a FY 2021 EV/EBITDA multiple of 10x. The agreement to sell Telia Latvia to Tet was announced on January 4, 2022.
“With this acquisition, Tet strengthens its position within the enterprise segment given Telia Latvia’s network, technology assets and highly skilled employees. Latvia is an interesting ICT market and Telia remains committed to continue contributing to the digitalization of Latvia through our engagement in Tet and LMT,” Andreas Ekstrom, Telia Company Head of Latvia, said.