Scenarios for the sale of AS Levira to be presented to government this year

Tallinn's TV tower. The iconic tourist attraction would likely be moved to the state's real estate company before the sale of AS Levira (Martin Dremljuga/ERR)
4/9/2016 11:37 AM
Source: BNS
Category: Business

Finance Minister Sven Sester (IRL) said on Friday that he planned to present different scenarios for the sale of the cloud, media and network service provider AS Levira to the government in the second half of the year.

The Finance Ministry's position had been and still was that, considering the company's activity profile and the prospect that the share of its public interest tasks will steadily decline, it was practical to sell the state's share in AS Levira, Sester told the Baltic News Service on Friday.

"For this, the optimal way and time have to be picked, so that the interests of the state are protected and goals including the continued free-to-air service, the possibility of visiting the Tallinn TV tower, and the optimization of owners' income are achieved,” Sester said.

He added that the Finance Ministry was analyzing a future action plan and available choices so the different options could be placed before the government in the second half of 2016.

The Finance Ministry asked the Ministry of Economic Affairs and Communications and the Ministry of Culture for their opinions last year on whether to retain or divest the state’s stake in Levira.

Given the functioning market and lack of a strategic or other public interest, it would be more appropriate for the state to take the role of regulator than of entrepreneur and market player in this field, the Ministry of Economic Affairs and Communications suggested back then.

Both ministries agreed that the sell-off analysis should carefully weigh all aspects of the future of the Tallinn TV tower so it would remain open to the public also after the sale. The TV tower was an iconic tourist attraction and therefore serious thought should be given to separating the property from Levira sale and transferring it to the state real estate management company RKAS, for example, the ministries suggested.

Editor: Dario Cavegn

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