Tele2 Seeking New Acquisitions

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Tele2, the Swedish telecommunications firm after its recent Russian exit, is now in search of acquisitions located in Europe and Eurasia. This was confirmed by its CEO as it is flushed with US$3.5 billion in cash.

Tele2 already has drafted growth targets for its remaining operations. These operations are located in Kazakhstan, Norway, the Netherlands and Sweden. CEO Mats Granryd said that the firm's balance sheet provides it the opportunity to acquire further growth in the market.

Aside from Europe and Eurasia, Garnyrd said that it is also looking into the establishment of new operations through the purchase of mobile radio licenses. These targeted countries would be those having a population of five million with good GDP growth, limited numbers of operators and with high prices.

According to Granyrd, "There is plenty of room to grown in 4G and smartphones in other European countries." This bright forecast is a far cry from the gloomy picture that many other operators In Europe have painted.

Tags
Acquisitions, Europe

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