LMT Launches New Lending Company
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LMT Launches “LMT Finance” to Offer Tech-as-a-Service Solutions
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Published November 3, 2025, 19:59 EST
Latvian telecommunications company LMT has established a new subsidiary, “LMT Finance,” to provide businesses with complete digital growth services, including technology rental, IT support, cybersecurity, and administration – all offered on a monthly subscription basis.
Expanding Beyond Connectivity: A New Approach to Tech access
LMT,traditionally a mobile network operator,is diversifying its offerings with “LMT Finance.” The new company aims to democratize access to essential technology and support services for businesses of all sizes and sectors. According to LMT representatives, businesses will be able to rent equipment like computers and access a suite of IT services without important upfront capital expenditure.
“LMT Finance” will offer a fully integrated approach, encompassing not only technological expertise but also device servicing and ongoing support. This model is designed to alleviate the burden of managing IT infrastructure, allowing companies to focus on their core business operations.
Financial Details and Ownership Structure
“LMT Finance” was officially registered on October 24, 2024, with a share capital of two million euros. LMT is the sole owner of the new entity. This investment signals LMT’s commitment to expanding its role in the Latvian business ecosystem.
In 2024, the LMT concern reported a turnover of 308.608 million euros, a slight decrease of 0.5% compared to 2023. Though, the company’s profit increased by 6.1% to 34.038 million euros, demonstrating continued financial strength despite the challenging economic climate.LMT Financial Results 2024
Ownership and Potential Sale of LMT
LMT’s current ownership structure includes Telia Company and its subsidiary Sonera Holding (49%), SIA “Tet” and VAS “Latvijas Valsts radio un televīzijas centrs” (LVRTC) (23%), and SIA “Possessor public Asset Management” (5%).
A significant advancement is the ongoing negotiation for the sale of Telia’s shares in both “Tet” and LMT.On November 2, 2025, Latvian Television reported that Telia signed a memorandum of understanding with Latvia, Latvenergo, and LVRTC regarding the sale. The final agreement is expected by the end of 2025, with the deal anticipated to be completed in the first half of 2026. This potential change in ownership could influence the strategic direction of both companies.