Latvia, Legislation, Markets and Companies
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Saturday, 27.04.2024, 05:15
Kucinskis’ government has suspended acquisition of Radio SWH
The buyer of the shares had been a company linked with Swiss
lawyer Rudolf Meroni, but the
acquisition has been suspended in the national interest, said Latvian public
television’s analytical news program De Facto on Sunday.
Radio SWH as the
media with a broad market coverage has been recognized as a company of national
importance. According to legislative amendments adopted two years ago, such
companies can be sold only with the government’s consent.
Last September Radio SWH announced on changes in its owner
structure. 80% shares held by an Estonian resident were acquired by company
Media Support which is headed by Aivars
Gobins who is linked with Meroni. According to the Enterprise Register, Media
Support belongs to Austrian company Baltic News Network and the true
beneficiary is Austrian citizen Ursula
Harrand.
Harrand and her husband are also said to be linked with
Meroni. Meroni in the task of the prosecutor’s office currently holds assets
allegedly secretly belonging to Ventspils mayor Aivars Lembergs who is facing graft charges, the news program
reported.
Kucinskis’ government in a closed meeting did not give its
approval of the acquisition. The government’s decision is secret.
Former economics minister Arvils Aseradens (New Unity) said that the company had asked not to
publish information on the transaction. Aseradens also said that before making
the decision, the government consulted national security services.
Radio SWH head Janis Sipkevics said that he has not
received any information about the government’s decision, but he confirmed that
the owners of the radio have not changed.
Latvijas Avize daily reported earlier that the sum of the
transaction could be EUR 2.2 mln.
As reported, Radio SWH
in 2017 posted EUR 2.696 mln in sales, up 6.6% y-o-y, while the company’s loss
was EUR 14,517 in contrast to a profit a year ago, according to Firmas.lv
business database.
The company was established in 1993 and had a share capital of
EUR 2.536 mln.
Media Support is a company providing information services,
including through Baltic News Network website. It was founded in 2011 and has a
share capital of EUR 2,800. In 2017 the company posted EUR 407,348 in sales and
earned EUR 29,992 in profit.