Estonia, Legislation, Markets and Companies, Real Estate, Telecomunications

Minister of Economic Affairs and Communications Urve Palo briefed the cabinet on the sale of the state stake in AS Levira on Thursday.

The government has decided to pursue the sale of the shares of AS Levira, but the government was of the view that the access of the public to the TV Tower has to be guarantee in the future too.

AS Levira is an electronic communications service provider, in which the Estonian state owns 51% and 49% of it belongs to Telediffusion de France SAS le (TDF).

The economy ministry announced in February that the state's 51% stake will be sold together with TDF's 49% of shares. Thus the aim of the sales offer is to sell 100% of Levira's shares together. AS Levira administers also the landmark Tallinn TV tower.

Eesti Päevaleht wrote in May that Palo has decided to cancel the sale, first, because of security reasons and second, the symbolic meaning of the TV tower. The 314 metres-high TV tower is the symbol of Estonia regaining independence, which the Soviet army tried to conquer in August 1991. The building was re-opened to public in 2012, after thorough renovations and became a major tourist attraction at once. It had to be open for public for the next five years. If sold, the new owner could close it in 2017, the newspaper claimed.