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Tele2

Tele2 AB is a leading telecommunications company headquartered in , founded in 1993 by entrepreneur as a challenger to established monopolies by offering affordable fixed services. The company provides a wide range of connectivity solutions, including mobile and fixed broadband, , data network services, television, streaming, and global (IoT) offerings, serving millions of customers across its core markets. With a focus on and , Tele2 operates award-winning next-generation networks, such as its infrastructure that covers 99.9% of Sweden's population and 90% of the country's landmass as of late 2025. Tele2's operations are concentrated in the and regions, primarily , , , and , where it delivers integrated services to both and segments through a multi-brand strategy emphasizing superior and value. In , its largest market, as of mid-2025 Tele2 had approximately 2.8 million mobile subscribers and 1.1 million mobile subscribers, alongside 957,000 fixed subscribers. In the Baltics, it holds a strong position, including market leadership in with over 2 million subscribers as of early 2025. Financially, Tele2 reported trailing twelve-month revenue of approximately $2.91 billion USD as of September 2025, with guidance for low single-digit in end-user service revenue for the full year. Historically, Tele2 has pioneered telecom advancements in the region, launching Sweden's first 3G network in 2000, building 4G infrastructure in 2010, and deploying the country's initial public 5G network in 2021 following its 2018 acquisition of cable operator Com Hem. The company is listed on the Nasdaq Stockholm stock exchange since 1996 and has earned recognition for environmental leadership, including being ranked as Europe's top climate leader in 2023 by the Financial Times and Sweden's most sustainable company in 2024 and again in 2025 (ranking 23rd globally) by Time Magazine, with approved science-based Net Zero targets since 2022.

Corporate profile

Founding and headquarters

Tele2 was founded in March 1993 by Swedish entrepreneur as a of Investment AB Kinnevik, with the aim of challenging the longstanding state-owned in . The company evolved from Comvik, an earlier venture established in 1981 under Kinnevik that initially focused on services as an alternative to the dominant Televerket. From its inception, Tele2 concentrated on fixed-line telephony and international calling services within , launching the latter in March 1993 and quickly achieving a 10% market share by year's end through aggressive pricing that undercut established providers. This initial emphasis on cost-effective voice services laid the groundwork for broader accessibility in . By 1994, Tele2 expanded to domestic fixed-line calls, further eroding the by halving customer charges within three years. In the , Tele2 transitioned into mobile services, building on Comvik's legacy, which had introduced Sweden's first analog mobile network in 1981 and launched a network in September 1992 as one of Europe's earliest operators. The full integration occurred in 1997 through a merger with (formerly Comvik), enabling Tele2 to offer comprehensive mobile offerings under its brand. Tele2 maintains its global headquarters in Science City, , , a hub for technology and innovation. Key operational offices are located in the , including , , and , supporting its core markets there.

Ownership and leadership

In 2024, Freya Investissement, an investment vehicle jointly controlled by the Group and NJJ Holding, acquired a 19.8% stake in Tele2 from , establishing it as the company's reference shareholder with majority voting control through ownership of Class A and Class B shares. As of October 2025, Freya Investissement holds 19.84% of the capital and 27.09% of the votes, making it the largest single shareholder and enabling strategic influence over Tele2's direction as a subsidiary-like entity under Iliad's ecosystem. Tele2's leadership is headed by President and CEO Jean Marc Harion, appointed in November 2024 with over 25 years of experience, including his prior role as CEO of Play in where he drove growth and . Key executives include Karin Wadström Sjöstedt, Executive Vice President and Chief People Officer since 2023, who oversees with a background in senior HR roles at Telia; and Nicholas Högberg, appointed in November 2025 as Executive Vice President, Chief Commercial Officer B2C, and Deputy CEO effective December 1, 2025, succeeding Petr Cermak and bringing more than 25 years in , including at 3 Sweden. The Board of Directors comprises eight members as of 2025, chaired by Thomas Reynaud, elected in 2024, who brings extensive experience from Group as its CEO. Other members include Jean Marc Harion (CEO, elected 2024); Högberg (elected 2024); Maxime Lombardini, elected in 2025 and serving on the with a background in regulatory affairs at ; Mathias Hermansson, elected in 2025 and Chairman, a finance expert from ; Aude Durand, elected in 2024 and on the Remuneration Committee, focused on strategy at ; Stina Bergfors, elected in 2021 and on the Remuneration Committee, with telecom governance experience; and Sam Kini, elected in 2021 and on the , a veteran in technology investments. Tele2's governance structure emphasizes shareholder representation, particularly through its Nomination Committee, which proposes board elections and is composed of representatives from major owners, including Nicolas Didio from Freya Investissement (Chairman), Frank Larsson from Handelsbanken Fonder, and Erik Granström from Folksam, ensuring alignment with key investor interests ahead of the 2026 .

Financial performance

Tele2 reported full-year revenue of 29,583 million in 2024, marking a 2% organic increase from 2023, driven by steady growth in core operations. Underlying EBITDAaL for the year stood at 10,612 million , reflecting a 2% organic rise, supported by cost discipline and operational efficiencies. The company's shares are listed on under the tickers TEL2 A and TEL2 B, providing investors access to its performance in the telecommunications sector. In 2024, Tele2 launched a plan aimed at enhancing profitability through measures such as organizational simplification, stricter cost controls, and initiatives to boost equity . This plan includes a targeted 15% reduction in , equivalent to 600-700 full-time equivalents, to streamline operations while maintaining focus on customer-centric growth. As of 2024, Tele2 employed approximately 4,328 people across its operations. Tele2's financial momentum continued into 2025, with first-quarter underlying EBITDAaL rising 6% organically to 2.7 billion , fueled by strong performance in the markets and early transformation benefits. In the second quarter, end-user service revenue grew 2% organically to 5.5 billion , reflecting resilient demand for and fixed services. The third quarter saw total revenue increase 1% organically to 7.4 billion , alongside a 2% rise in end-user service revenue to 5.6 billion and profit after financial items (EBT) of 1.6 billion , underscoring ongoing profitability improvements.

History

Early years and expansion

Tele2 launched its fixed services in in 1993, following the of the market, and rapidly expanded into mobile operations through its brand, which had initiated in 1992 before merging with Tele2 in 1997. By the early , Tele2 had grown to become 's second-largest mobile operator, capturing significant through aggressive pricing and network expansion, with an EBITDA margin of 42% in by 2006. This early success in its home market laid the foundation for broader ambitions, emphasizing cost-efficient operations to disrupt established incumbents. The company's expansion into the began in the late 1990s, targeting emerging markets with a combination of fixed and mobile services. In , Tele2 entered via the acquisition of a stake in AS Ritabell in 1998, increasing ownership to full control by 1999 and launching mobile operations under the Tele2 brand. Latvia followed in 2000 through the acquisition of Baltkom , enabling nationwide mobile coverage, while saw entry in 1999 with a DCS 1800 license acquisition, allowing for integrated fixed-mobile offerings across the region. These moves capitalized on post-Soviet liberalization, with Tele2 building infrastructure to serve both consumer and business segments in these high-growth areas. Tele2 continued its pan-European push in the late 1990s and early 2000s, entering the in 1997 with fixed telephony and launching services as an MVNO in 2001 before acquiring full infrastructure. In , operations started in 1995 with fixed services and expanded to in 2000; saw fixed entry in 1996 and in 2000; launched fixed telephony in 1998; and began fixed operations in 1999, later adding in 2003. The market was entered in 2003 with and fixed services via Alpha Telecom acquisition, followed by offerings. Throughout this period, Tele2's growth strategy centered on low-cost, no-frills services to challenge dominant incumbents, employing the "salami principle" of gradual infrastructure investment, competitive pricing, and across fixed, , and to drive customer acquisition and . This approach enabled rapid without excessive capital outlay, replicating successful Swedish models in new regions while leasing capacity where needed to maintain profitability.

Mergers and acquisitions

Tele2 has undertaken several key to consolidate its position in the sector, particularly in integrating mobile and fixed-line services across its core markets. These transactions have enabled the company to enhance its customer base, spectrum holdings, and infrastructure synergies, supporting advanced network developments such as . A pivotal deal was the 2018 merger with Com Hem, Sweden's leading and provider. Valued at approximately 25.8 billion (about $3.2 billion), the statutory merger was announced on January 10, 2018, and completed on November 5, 2018, with Com Hem Holding AB fully absorbed into Tele2 AB. This created Tele2 Sverige AB, combining Tele2's mobile operations with Com Hem's fixed , TV, and assets, serving over 5 million households and businesses in . The integration facilitated bundled services and operational efficiencies, including accelerated rollout through shared infrastructure. In 2016, Tele2 acquired the Swedish operations of TDC, a Danish telecom firm, for an enterprise value of SEK 2.9 billion (approximately $352 million). The deal, announced on June 21, 2016, and cleared by the in October 2016, bolstered Tele2's (B2B) segment by adding TDC's enterprise customers, data centers, and cloud services under the TDC Song brand. This enhanced Tele2's capabilities in corporate connectivity and fixed-mobile convergence in . Another significant transaction was the 2018 merger of with , completed on January 2, , following approval by the . As part of the agreement, Tele2 AB acquired a 25% stake in the resulting entity, , for an undisclosed amount, while retained 75%. This consolidation expanded Tele2's mobile spectrum portfolio (including 3.5 GHz bands) and customer base to over 8 million in the market, enabling joint investments in infrastructure and improved network coverage. Post-merger integrations focused on service synergies, though Tele2 later divested its stake in 2021. These acquisitions, among others, have driven Tele2's strategy of fixed-mobile convergence, yielding cost savings and enabling unified 5G deployments across merged operations. For instance, the Com Hem merger alone generated annual synergies exceeding SEK 1 billion through network optimization and cross-selling opportunities.

Recent developments

In 2024, Freya Investissement, an entity jointly controlled by Iliad Group and NJJ Holding, acquired a 19.8% stake in Tele2 from Kinnevik AB for approximately SEK 13 billion, positioning Freya as the company's reference shareholder. The transaction, completed in phases throughout the year, did not result in a full takeover or delisting from Nasdaq Stockholm, where Tele2 continues to trade under the symbols TEL2 A and TEL2 B. In early 2025, Tele2 initiated a comprehensive transformation plan focused on enhancing cost efficiency and profitability, including stricter expense prioritization, organizational simplification, and a targeted 15% reduction in its workforce during 2025—equivalent to 600-700 positions—subject to union negotiations. The plan builds on prior network upgrades and aims to streamline operations across its markets. In September 2025, Tele2, through its Net4Mobility with , activated services across its entire mobile network in , achieving coverage for 99.9% of the population and 90% of the landmass—a significant expansion from 25% landmass coverage earlier in the rollout. This milestone supports broader connectivity goals and positions Tele2 for advanced services in the region. Also in 2025, Tele2 entered a 50/50 partnership with Global Communications Infrastructure (GCI), backed by , to establish the first pan-Baltic tower company based in . The new entity will own and operate around 2,700 tower and rooftop sites across , , and , with Tele2 serving as the anchor tenant under a 20-year master services agreement to facilitate infrastructure sharing and optimize capital deployment. The deal, valued at approximately €560 million, is expected to close in early 2026 pending regulatory approvals. Earlier in 2025, Tele2 discontinued the terrestrial distribution of its TV service in following the expiration of its agreement with Teracom at the end of 2024, shifting focus to IP-based delivery and resulting in a short-term dip from the pay-TV segment. This move aligns with industry trends toward streaming but contributed to a 2% end-user service growth in Q3 2025 despite the headwind. On November 17, 2025, Tele2, through its Net4Mobility with , secured additional spectrum in the 1800 MHz band to further enhance capacity and coverage in .

Divestments

European market exits

Tele2 began streamlining its European operations in the mid-2000s by divesting non-core assets to enhance profitability and focus on higher-return markets. In , the company sold its Danish subsidiary, Tele2 Denmark, to for an enterprise value of approximately 1,025 million, marking an early exit from the market to redirect resources toward more promising regions. This transaction, completed later that year following regulatory approval, aligned with Tele2's strategy of concentrating on operations with stronger growth potential. The divestment trend continued in with the sale of Tele2 to Virgin Mobile for 575 million, exiting the competitive mobile market where the unit had generated limited EBITDA. The deal, finalized by year-end, allowed Tele2 to reduce exposure to low-margin international ventures and prioritize scalable operations elsewhere in . By 2015, Tele2 fully withdrew from Norway after selling its operations, including brands like One Call and Network Norway, to TeliaSonera for SEK 5.1 billion. The exit followed challenges in securing 4G spectrum and was part of a broader effort to consolidate in profitable Nordic and Baltic areas, with the transaction cleared by Norwegian authorities in early 2015. In 2017, Tele2 sold its Austrian business to Hutchison Drei Austria (H3G) for an enterprise value of EUR 95 million, ending operations in a market dominated by fixed-line services. This divestment supported Tele2's geographic refocus, as the unit contributed modestly to overall revenue. Tele2's European exits accelerated in the late 2010s. In 2018, it merged its operations with (a subsidiary), receiving a 25% stake in the combined entity valued at EUR 190 million in cash consideration, effectively reducing direct control while retaining minority ownership. The merger, approved unconditionally by the in November 2018, enhanced efficiencies but set the stage for full divestment. In 2019, Tele2 divested its Croatian operations to for an enterprise value of EUR 220 million, exiting a market where it had operated since 2005 with mobile and broadband services. The sale, completed in 2020 after regulatory review, further streamlined the portfolio by eliminating a peripheral asset. Tele2 exited in 2020 through a for an enterprise value of up to EUR 22.8 million, concluding a long-term strategy to consolidate its footprint and avoid low-scale markets. This move reinforced the company's emphasis on core regions. Finally, in 2021, Tele2 and agreed to sell their joint Dutch venture, T-Mobile Netherlands, to for an enterprise value of EUR 5.1 billion, with Tele2 receiving approximately EUR 215 million in proceeds from its stake. The transaction, completed in 2022, marked the end of Tele2's international expansion phase, allowing full concentration on and operations for improved profitability and investment in . These divestments, spanning 2007 to 2021, were driven by Tele2's overarching strategy to prioritize high-margin core markets in and the , where and network investments could yield superior returns amid intensifying competition elsewhere in . By reducing operational complexity, the company aimed to enhance through focused growth in its primary geographies.

Exits from Russia and CIS

Tele2 entered the Russian market in 2003, initially by consolidating regional mobile operations acquired from its sister company in 2001 and launching GSM services under its brand. The company rapidly expanded, becoming one of 's leading mobile operators through aggressive pricing and network buildout, with approximately 23 million subscribers as of early 2013. This growth positioned as a key revenue contributor, generating 12.984 billion in net sales in alone, or roughly 34% of the group's total revenue at the time. Facing regulatory pressures from a law capping in operators at 20%, Tele2 AB divested its entire stake in in 2013, selling 100% to state-backed VTB Group for USD 2.4 billion in equity value plus USD 1.15 billion in net debt. This transaction marked Tele2's complete exit from direct operations in , driven by the need to comply with ownership restrictions and following the company's failure to secure an license. Subsequent ownership changes saw VTB transfer control to , which consolidated 100% by March 2020. The allowed Tele2 to refocus on core markets but resulted in the loss of a major growth engine, with Russia's operations having driven significant scale prior to the sale. In the CIS region, Tele2 expanded into in 2009 by acquiring a 51% controlling stake in Mobile Telecom-Service LLP (formerly known as K-Mobile and rebranded as ), for approximately USD 77 million plus a capital injection. The operator was rebranded as Tele2 , establishing a low-cost mobile presence in the market. In 2015, Tele2 merged its Kazakh operations with rival Altel to form a with state-owned , where Tele2 held 49% economic interest and 51% voting rights. Tele2 exercised its put option to exit the Kazakhstan JV in December 2018, finalizing the sale of its stake to Kazakhtelecom in 2019 for an undisclosed amount, thereby completing its withdrawal from the market. This divestment, like the Russian exit, streamlined Tele2's portfolio toward its Baltic Sea region focus, though it meant forgoing further expansion in Central Asia. The earlier departures from both markets positioned Tele2 without ongoing ownership in the region. In September 2024, the Russian operator rebranded to T2, ceasing use of the Tele2 brand under the terms of its licensing agreement.

Operations

Sweden

Tele2 operates in its home of through the subsidiary Tele2 Sverige AB, which integrates mobile and fixed-line services following the 2018 merger with Com Hem that created a leading converged operator. As Sweden's second-largest mobile operator behind Telia, Tele2 maintains a significant market position with a focus on competitive pricing, network innovation, and customer-centric offerings. The company leverages its extensive to serve both consumer and business segments, emphasizing seamless connectivity across urban and rural areas. In Q3 2025, Tele2's operations included 2.78 million revenue-generating units (RGUs), comprising 2.17 million postpaid and 616,000 prepaid subscribers, alongside 1.14 million postpaid RGUs, 958,000 RGUs and 761,000 subscribers. This customer base reflects steady growth in core connectivity services, with end-user service increasing 3% year-over-year, driven by higher average selling prices and modest additions. Tele2's bundled offerings combine , , and for residential users, while solutions target with integrated data and voice packages, supporting over 80% adoption among businesses. Key initiatives include the nationwide rollout of through the Net4Mobility with , achieving 99.9% population coverage and 90% landmass coverage by Q3 2025, enhancing speeds and reliability for users. Fiber expansion efforts concentrate on urban and suburban areas to bolster fixed capacity, addressing regulatory delays in villa connections while prioritizing high-speed access for bundled residential and services. These developments position Tele2 to meet growing demand for hybrid mobile-fixed solutions in a competitive landscape. Tele2's regulatory environment in Sweden is shaped by spectrum allocations from the Post and Telecom Authority (PTS), including 30 MHz in the 700 MHz band (n28) for wide-area coverage, 80 MHz in the 2.3 GHz band (n40) for capacity, and 400 MHz in the 3.5 GHz band (n78) for high-performance 5G. These holdings, secured through auctions and renewals, enable efficient network deployment while complying with national coverage obligations and competition rules.

Baltic states

Tele2 has maintained a significant presence in the since the mid-1990s, beginning with its entry into in 1995 as Ritabell, which was later rebranded under the Tele2 name. The company expanded to in 2000 and around the same period, establishing itself as a key mobile operator across the region through acquisitions and organic growth. By 2025, Tele2 holds strong market positions, particularly as a market leader in mobile services in and a strong second position in , while continuing a turnaround in . As of Q3 2025, Tele2's combined mobile subscriber base in the exceeds 3.4 million, with approximately 1.94 million customers in , 1.07 million in , and 468,000 in , reflecting steady growth driven by postpaid additions and bundled services. The company has also expanded its fixed offerings, particularly in urban areas, contributing to increasing adoption of high-speed connectivity. Tele2 pioneered 5G deployment in the region, launching commercial services in in 2020 in select districts such as Noblessner and Telliskivi, with subsequent rollouts enhancing coverage for mobile and fixed-wireless access. To optimize operations, Tele2 formed a pan-Baltic tower joint venture with Global Communications Infrastructure (GCI), backed by Manulife Investment Management, in August 2025; the Lithuania-based entity manages around 2,700 tower and rooftop sites across Estonia, Latvia, and Lithuania, valued at approximately €560 million, to accelerate 5G expansion and improve efficiency through shared infrastructure. Locally, Tele2 tailors services to regional needs, such as deploying IoT solutions for precision agriculture in Lithuania to monitor crop and livestock conditions remotely, and providing high-speed fiber broadband up to 500 Mbps in Estonian urban centers like new Tallinn developments. These adaptations support sector-specific demands while leveraging regional synergies for cost-effective service delivery.

Network and infrastructure

Tele2 has achieved extensive coverage in , reaching 99.9% of the population and 90% of the landmass by late 2025 through its Net4Mobility with . This rollout builds on earlier progress, with over 90% population coverage attained by the end of 2024, enabling + speeds of 200-800 Mbit/s for 70% of users. In the , Tele2 has deployed a standalone core network using technology across , , and since 2021, supporting full nationwide rollout efforts. By mid-2025, coverage in approached 90% of the territory through upgrades to over 130 sites, with similar expansions ongoing in and to enhance rural and urban connectivity. Tele2's fixed infrastructure primarily centers on , where it delivers high-speed via hybrid fiber-coax (HFC) and networks under the Com Hem brand, supporting gigabit speeds for residential and business customers. In the Baltics, operations focus on mobile networks with supporting backhaul routes, such as the Baltic Highway connecting through the region to and , rather than extensive local fixed deployment. Investments in fixed assets emphasize upgrades for reliability and capacity, aligning with broader network modernization. Key spectrum holdings enable robust coverage and capacity: in Sweden, Tele2 secured licenses in the 900 MHz (sub-1 GHz for wide-area coverage), 2100 MHz, and 2600 MHz (mid-band for capacity) bands via the 2023 auction through Net4Mobility. In November 2025, Net4Mobility secured additional licenses in the 900, 2100, and 2600 MHz bands through a recent PTS auction to further enhance 5G capacity. In the Baltics, holdings include 700 MHz (sub-1 GHz) and 3.5 GHz (mid-band) spectrum in Latvia, with comparable allocations in Estonia and Lithuania to support 5G expansion. These assets, valued at SEK 3,783 million as of December 2024, underpin low-latency services and future-proofing against spectrum renewal uncertainties. Tele2's annual capital expenditures, excluding spectrum and leases, totaled SEK 4,073 million in 2024, with guidance for 2025 set at approximately 12% of sales (around SEK 2.6-2.8 billion based on projected revenues of SEK 22 billion), directed toward completion, network upgrades, and IT enhancements. drives these investments, including AI-optimized mobile networks to reduce by up to 40% and a shift to 100% renewable , achieving a 96% reduction in Scope 1 and 2 emissions since 2019 (1,540 tCO2e in 2024). Efforts also target 100% circularity for network equipment by 2025, with pilots for cells at base stations to eliminate fuels by 2029.

Services

Mobile and broadband

Tele2 provides a range of consumer mobile services in its primary markets, including postpaid subscriptions with unlimited data options and prepaid plans tailored for flexibility. In Sweden, postpaid plans feature unlimited calls, SMS, and data across different speed tiers, leveraging the company's 5G network that covers 99.9% of the population as of September 2025. 5G download speeds can reach up to 1 Gbps in optimal conditions, enabling high-bandwidth activities like streaming and gaming. Prepaid options, such as tourist packages, offer up to 20 GB of data with unlimited calls for SEK 249, suitable for short-term visitors. The company's offerings emphasize fixed-line connectivity for residential users, with fiber-optic services in delivering speeds up to 1000 Mbit/s and upload, ideal for multiple devices and streaming. These plans start at 249 per month and include a router, with bundles integrating services inherited from the 2018 Com Hem merger, allowing customers to combine , digital , and streaming. In the , where fiber deployment is less ubiquitous, Tele2 utilizes DSL for speeds up to 100 Mbps and fiber-to-the-curb (FttC) technology offering up to 300 Mbps in select areas, focusing on mobile-centric bundles that pair fixed with for cost-effective home use. Tele2 maintains a competitive low-cost , exemplified by unlimited plans in starting at 299 per month (promotional as of late 2025), which undercuts rivals while maintaining quality through efficient network sharing. This approach extends to packages that prioritize affordability without long-term contracts, appealing to price-sensitive consumers. Recent innovations include full support for compatible smartphones and smartwatches, activated directly through the Mitt Tele2 app for seamless self-service management, including plan changes and balance checks as of 2025. This digital-first feature enhances user convenience by eliminating physical SIM cards and enabling quick via scanning.

Business solutions and IoT

Tele2 provides a range of enterprise services tailored for business customers, including cloud connectivity, implementations, and cybersecurity solutions integrated through its platform. Cloud connectivity is facilitated via global across over 670 networks in 190+ countries, enabling seamless data exchange for multinational operations. In partnership with , Tele2 utilizes the Control Center within its 2CONTROL platform to manage connectivity, automate device provisioning, and support switching for enhanced flexibility. services are offered to optimize and security, as demonstrated in a 2022 agreement with OKQ8 to deploy one of northern Europe's largest networks for secure, sustainable connectivity in fuel retail operations. Cybersecurity features include telco-grade private APNs, VPNs, and interconnects to protect deployments from threats, with all customers undergoing security qualification processes. The company's portfolio centers on managed services, supporting applications in , smart cities, and , with a particular emphasis in the . Tele2 connects millions of customer assets globally, powering solutions such as for optimization, smart metering for urban utilities, and precision monitoring for agricultural operations like tracking and control. In the Baltics, these offerings extend to projects, enabling initiatives for efficient and citizen services through reliable, low-latency connections. The platform's recent integration of 3GPP-based with Skylo, launched in October 2025, ensures uninterrupted coverage in remote areas, benefiting sectors like and in rural Baltic regions. Tele2 has forged key partnerships with Swedish industries, including manufacturing, where it delivers customized and connectivity for , such as in systems with Enjay for monitoring. In the Baltics, collaborations with entities support advancements, leveraging Tele2's infrastructure for secure data networks. These relationships underscore Tele2's role as a one-stop provider for enterprises and governments. B2B revenue growth has been driven by demand for and advanced connectivity, with Sweden Business end-user service revenue rising 5% in Q3 2025 and overall group growth supported by expansions, including private network capabilities for industrial applications. Tele2's recognition as a top 15 global provider in the 2025 Gartner for Managed IoT Connectivity Services highlights its market position, with top 10 status in fueling further adoption.

Sustainability and corporate responsibility

Environmental initiatives

Tele2 has established ambitious goals for carbon neutrality, targeting across its operations and by 2040. The company achieved a 96% reduction in Scope 1 and 2 by 2024, exceeding its interim target of a 90% reduction by 2025 from a 2019 baseline, and aims for a full 100% reduction in these scopes by 2029. For Scope 3 emissions, Tele2 seeks a 60% reduction per subscription by 2029, with total Scope 3 emissions decreasing 7% year-over-year to 254,245 tCO₂e in 2024 and an 11% intensity reduction per subscription since the 2019 baseline. These efforts are supported by a climate transition plan to eliminate fossil fuels by 2029 and alignment with science-based targets validated by the (SBTi). In developing a green , Tele2 has transitioned to 100% renewable electricity for its sites in and the Baltics since 2021, maintaining this level through 2024 and achieving 98% across its total mix, with the fossil energy share dropping from 45% in 2019 to 2% in 2024. The company 95% of its equipment annually and addresses e-waste by 9.5% of distributed mobile phones in 2024, with a target of 30% by 2030. These measures are integrated into an ISO 14001:2015-certified . Tele2 advances principles through device take-back programs, collecting 64,000 mobile phones in in 2024 (34,000 via B2B buy-back and approximately 30,000 via B2C take-back), progressing toward its goal of 100,000 mobile phones by 2026. for second-hand goods and product-as-a-service averaged 45% recycled material content in 2024, with compliant packaging at 100% recycled and a target of at least 65% recycled material for compliant packaging. Tele2 also commits to 100% circularity for network equipment by 2025, collaborating with partners like , , and on these standards. Progress is tracked through key metrics, including protection efforts with an planned by 2025.

Social responsibility

Tele2 emphasizes corporate responsibility in areas such as child online safety and . In 2024, Tele2 blocked 7,130,113 attempts to access material, a 39% increase from 2023, with a target of 10% annual increase through 2026. For , the company achieved 40% women in its Group Leadership Team in 2024 and set targets including 40% women in leadership roles, 35% female employees in , and 25% employees with foreign backgrounds in by 2026; the MyVoice inclusion score reached 85, above the high-performing benchmark.

Awards and recognition

Tele2 has received significant recognition for its sustainability efforts, particularly in . In 2023, the company was ranked number one among Europe's top 500 leaders by the in partnership with , based on reductions in intensity, achieving the highest overall score. In 2024, Tele2 was named Sweden's most sustainable company and ranked 37th globally in Time Magazine's World's Most Sustainable Companies list, developed with , evaluating performance across over 5,000 companies. Tele2 continued to excel in sustainability rankings in subsequent years. In 2025, it was ranked number one in the Europe's Climate Leaders list with a score of 87.5. For the third consecutive year in 2025, it earned an 'A' score on CDP's A List, recognizing leadership in transparency and performance on among thousands of global companies. The company also topped sustainability evaluations in 2025, as reflected in its leading position within regional industry benchmarks for environmental impact and corporate responsibility, including being named Sweden's most sustainable company for the second year in a row and ranking 23rd globally in Time Magazine's 2025 list.

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