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| | IFC Europe & Central Asia -Selected Press Release |
 | | Tilts, which acquired 49 percent of Lattelekom last year, is 63 percent owned by Cable and Wireless, U.K., a leading international provider of public telecommunications services; 27 percent by Telecom Finland, Finland's largest telecommunications operator; and 10 percent by IFC. |
 | | Tilts, in partnership with the Latvian government, intends to modernize Lattelekom's telephone network and commercialize the organization, as well as eliminate inadequacies in international and domestic long distance connections, rural phone systems, and public payphones. |
 | | This is IFC's first investment in Latvia, which became a member of IFC in September 1993, and Lattelekom is the first of Latvia's major state enterprises to be privatized. |
| www.ifc.org /ifcext/eca.nsf/Content/SelectedPRLatvia?OpenDocument&UNID=C0927EB6722B336785256968007292A1 (231 words) |
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