Latvia, Legislation, Post Office, Transport
International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:31
Government orders Latvijas Pasts to terminate contract with Mono
Alla Petrova, BC, Riga, 23.12.2009.
Print version
Print versionYesterday evening, the government ordered the state-owned joint-stock postal company Latvijas Pasts to make a buyout offer to the company Mono so as to buy out Mono's shares in the joint-stock company Latvijas Pasta nodalu tikls (Latvian Post Offices' Network) for their nominal value of LVL 24,000.
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Latvijas Pasts board chairman Aivars Veiss acknowledged to reporters after the government meeting that the company would make such an offer to Mono, writes LETA.
Veiss also confirmed that the government had once again approved the development strategy of Latvijas Pasts, which envisaged further development of the network of post offices in Latvia without the involvement of any strategic partners, and decided that Latvijas Pasts would have to terminate the contract with Mono.
Veiss emphasized that the contract with Mono did not stipulate any penalties for terminating the contract.
Veiss also stressed that the current development strategy of Latvijas Pasts stated that no post offices would have to be shut down.
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