Sweden: EU backs Tele2 to reach near-universal 5G coverage

• Swedish telecom company Tele2 signed a new €140 million loan agreement with EIB.
• Loan will help roll out high-speed mobile networks in Sweden.
• Goal is to reach 99.9% of the Swedish population with 5G coverage.

The European Invest Bank (EIB) is providing Tele2 with a €140 million loan to support deployment of the 5G network and upgrade of 4G in Sweden.

Tele2 will use the loan to roll out a state-of-the-art 5G mobile network in Sweden with the goal of reaching 99.9% of the country's population. In 2016, the EIB supported Tele2 with a €125 million loan to build a 4G network in Sweden.

"Access to fast and stable connectivity is crucial for both businesses and individuals," said EIB Vice-President Thomas Östros. "This project aligns perfectly with the aim for all EU households to have gigabit connectivity by 2030. We are delighted to support Tele2, a loyal partner, in expanding the 5G network across Sweden."

Tele2 is building its 5G network together with Telenor in the joint venture Net4Mobility.

"By securing a loan from the EIB on attractive terms, Tele2 continues its ambition to build the best and most reliable 5G network in Sweden," said Tele2 Chief Financial Officer Charlotte Hansson.

Background information

The EIB finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030, as pledged in our Climate Bank Roadmap. Over half of the EIB Group's annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

The EIB Group signed nearly €3 billion in financing for 32 projects in Sweden last year, a record high, with more than three quarters of these commitments channelled to climate action and environmental sustainability investments. For more details about our projects in Sweden and their impact, please visit our country page for Sweden.

Tele2 is a leading telecom company with a mission: to enable a society of unlimited possibilities. Through our networks and services - ranging from mobile and fixed connectivity, telephony and data network services to TV, streaming and global IoT solutions - we are deeply connected to every aspect of today's digital lifestyle. By making our infrastructure more powerful, reliable and sustainable, we enable society to become that as well. Tele2 was founded in 1993 and is listed on Nasdaq Stockholm. In 2023, Tele2 generated revenue of SEK 29 billion and reported an underlying EBITDAaL of SEK 10 billion.

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