Tele2 and Telenor secure Swedish 5G frequencies

Stockholm – Today, Tele2 AB (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) and Telenor Sweden have together, through their network joint venture Net4Mobility (“N4M”), secured spectrum in the 900, 2100 and 2600 MHz bands. The spectrum auction was arranged by the Swedish Post and Telecom Authority.   

Tele2 and Telenor have today, through their network joint venture N4M, acquired licenses in the Swedish 900, 2100 and 2600 MHz spectrum auction. Tele2 and Telenor together acquired licenses consisting of 2x10 MHz FDD in the 900 MHz band, 2x20 MHz FDD in the 2100 MHz band and 2x30 MHz FDD in the 2600 MHz band. Combined with the licenses already won in the 700 MHz auction in 2018 and in the 3.5 GHz auction in 2021, the newly acquired licenses will further strengthen Tele2’s and Telenor’s joint 4G and 5G network and secure the parties’ ability to run one of the most cost-effective mobile networks in Europe.

- I am very pleased with the outcome of the auction and that we now have the last piece of the puzzle to finalize Sweden’s best and most cost-effective 4G and 5G network, that significantly will improve the services for both consumers and businesses, says Kjell Johnsen, CEO and President of Tele2.

- This is a prerequisite for the continuation of the largest network modernization in our history. With 5G available throughout Sweden, we enable innovation for a more efficient and sustainable society, says Björn Ivar Moen, CEO of Telenor Sweden.

As part of the 5G deployment, the 4G network will be significantly upgraded as well, increasing speeds by up to 200 percent and improving coverage throughout the country.

About the auction
Tele2 and Telenor today won 2x10 MHz FDD in the 900 MHz band until 31st of December 2048, 2x20 MHz FDD in the 2100 MHz band until 31st of December 2050 and 2x30 MHz FDD in the 2600 MHz band until 31st of December 2050, in the Swedish 900, 2100 and 2600 MHz auction, to a sum of SEK 1,475 million. For more information about the auction, please visit www.pts.se. 

About Net4Mobility
In 2009, Tele2 and Telenor formed the joint company Net4Mobility, in order to build and operate a national 2G and 4G network together. As a result of the cooperation, the companies were first in Sweden to provide a nationwide 4G network, which today covers over 90 percent of Sweden and over 99.9 percent of Sweden's population. During the coming years, Tele2 and Telenor will build a leading nationwide 5G network as part of Net4Mobility.
  

For more information, please contact:

Fredrik Hallstan, Head of External Communications Phone: +46 761 15 38 30

Stefan Billing, Head of Investor Relations, Phone: +46 701 66 33 10

This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 17:15: CEST on September 21, 2023.