Tele2 and Telenor create joint venture for 4G rollout in Sweden
Posted by: Phat^Trance in Operator News, Press releases
Nordic telecommunication operators Tele2 and Telenor Tuesday said they would form a joint venture to establish a fourth generation wireless network in Sweden, a step that will increase data speeds for customers. No financial details were given on the 50-50 joint venture, but a Telenor spokesman told Dow Jones Newswires the move is in line with its previously announced capital expenditure expectations.
Telenor said at its fourth-quarter report it expects capital expenditure to be in the range of 15%-17% as a proportion of revenue, excluding licences and spectrum. Enskilda Securities analyst Ole Kjerkreit said the deal is a step forward for Sweden, but isn’t a surprise, especially since a joint venture would allow both companies to save capex by sharing costs.
