By Kyle Morris

Telia Co. AB said Tuesday that it has agreed to sell Telia Latvia to Latvian fixed-network operator Tet for an enterprise value of 10.8 million euros ($12.2 million).

The company said the deal is on a cash and debt-free basis and is expected to close in the second quarter.

Telia owns 49% of Tet.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

January 04, 2022 03:25 ET (08:25 GMT)