Tele2 hits July 2022 highs on planned cost cuts, upbeat guidance

Tele2 AB

29/01/2025 09:05

** Shares in Tele2  TEL2b.ST  are up 4.5% after the Swedish
telecom operator announced job cuts and a better-than-expected
2025 outlook 
    ** The group plans to cut more than 600 jobs in 2025 as it
seeks to reduce costs and boost profitability
    ** J.P.Morgan notes that the cost transformation program
appears much more ambitious than the Strategy Execution Plan
which was presented at end-2023
        ** For the full year 2025, Tele2 guides for a low
single-digit organic growth of end-user service revenue and a
mid- to high single-digit organic growth of underlying EBITDAaL
  
    ** JPM attributes the EBITDAaL guidance beat to the new
cost-cutting program and expects 2026 estimates to also increase
        ** The stock, on track for its best day in nine months,
reaches its highest since July 2022      

 (Reporting by Agnieszka Olenska)
 ((Agnieszka.Olenska@thomsonreuters.com;))