Gov­ern­ment al­lows Bite Li­etuva to be­come the owner of TV3, LNT and Star FM

Baltic News Network - - News -

On Tues­day, 25 July, the Cab­i­net of Min­is­ters per­mit­ted Lithua­nian com­pany UAB BITE Li­etuva to ac­quire de­ci­sive in­flu­ence in Lat­vian me­dia com­pa­nies TV 3 Latvia, LNT and Star FM.

Per­mis­sion from the Com­pe­ti­tion Coun­cil is still nec­es­sary for the deal to com­plete.

Ac­cord­ing to gov­ern­ment rep­re­sen­ta­tives, the three Lat­vian me­dia com­pa­nies own a ma­jor share of the coun­try’s mass me­dia mar­ket. They are also im­por­tant from the per­spec­tive of pro­tec­tion of in­ter­ests of na­tional se­cu­rity. In ac­cor­dance with re­quire­ments of the Na­tional Se­cu­rity Law, ac­qui­si­tion of 100% of cap­i­tal shares in such com­pa­nies re­quires per­mis­sion from the Cab­i­net of Min­is­ters. To make a de­ci­sion, the Cab­i­net of Min­is­ters took into ac­count re­ports from state se­cu­rity in­sti­tu­tions on this deal, as well as in­for­ma­tion from Bite Li­etuva about its own­ers and all other in­for­ma­tion re­gard­ing this deal from the per­spec­tive of pro­tec­tion of na­tional se­cu­rity.

Rep­re­sen­ta­tives of the State Chan­cellery say that, ac­cord­ing to avail­able in­for­ma­tion, Bite Li­etuva will ac­quire con­trol over all MTG Broad­cast­ing AB or­ga­ni­za­tions in Latvia.

Amend­ments to the Na­tional Se­cu­rity Law, which came into force 29 March, among other things, states that per­mis­sion from the Cab­i­net of Min­is­ters is needed in cases when in­di­vid­u­als wish to ac­quire ma­jor par­tic­i­pa­tion in com­mer­cial en­ter­prises im­por­tant to na­tional se­cu­rity. This is the first such re­quest ap­proved by the Cab­i­net of Min­is­ters since the new re­quire­ments came into force. As pre­vi­ously re­ported, at the end of May CC re­ceived a re­quest to ap­prove a deal with which Bite Li­etuva would ac­quire con­trol over all MTG Broad­cast­ing AB Group or­ga­ni­za­tions in Latvia, ac­cord­ing to in­for­ma­tion avail­able on CC web­site.

The de­ci­sion to per­mit or pro­hibit the deal has to be made by CC within one month’s time af­ter re­ceiv­ing the re­quest. If a case re­quires in-depth anal­y­sis, the review pe­riod can be ex­tended up to four months.

Ieva Lūka/LETA

Newspapers in English

Newspapers from Latvia

© PressReader. All rights reserved.