Tele2 shares rise as transformation plan delivers faster than expected

Tele2 AB

23/04/2025 08:37

** Shares in Tele2 TEL2b.ST are up 2.8% after the Swedish telecom operator announced Q1 results, updated on transformation progress

     ** The group has reported Q1 2025 EBITDAaL growth of 6%, triggered by transformation efforts announced in the previous quarter

     ** "The workforce reduction is faster than previously highlighted, which has clearly driven the beat on EBITDAaL and should lead to EBITDAaL upgrades for the remainder of 2025," says J.P. Morgan

     ** As per New Street Research, "we think the shares will continue to perform well, as there are several possible upside events still to come"

     ** Up to the previous session's close, shares were up 23.5%​ YTD

 (Reporting by Agnieszka Gosciak-Rabalska)

 ((agnieszka.gosciak@thomsonreuters.com))