EU – Baltic States, Investments, Latvia, Legislation, Markets and Companies

Both the Constitutional Protection Bureau and the Security Police declined to comment, but the newspaper emphasizes that neither of the authorities have so far ascertained the assumptions that the said mass media are now in the hands of businessmen affiliated with Russia, informs LETA.

Most probably, the information on the new owners of "Diena" and "Dienas Bizness" will not be made public in the coming months. It is expected that the new owner of the mass media, Aleksandrs Tralmaks could reveal the names of the investors by October.

Tralmaks said previously that by that time, an investment fund would be set up in Luxembourg where the persons who invested in the takeover deal would also be involved. After the investment fund is established, the names of the investors will be released to the public. Last week, however, Tralmaks was unable to hand in all necessary documents to the Luxembourgian finance watchdog.

Tralmaks made the decision to set up the investment fund in Luxembourg because his business partner Kalle Norberg performs most of his transactions there, besides, the tax regime of Luxembourg is more advantageous than that of Latvia.

Tralmaks did not confirm that investors are still wanted for the takeover deal, although several prospective investors have been approached, for instance, Parex Asset Management. The company's head, Roberts Idelsons, said that his company has no such plans for the time being, but if said media fund is indeed established and Parex Asset Management receives a good offer from it, the company will consider investing.

The founders of Skype Internet voice calls application, who were initially mentioned as the financiers of the takeover deal, said that none of them has personally invested any money in the deal.