Tele2 wins Latvian 5G frequencies
Stockholm – Tele2 AB (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) has today secured crucial spectrum in the Latvian 700 MHz spectrum auction. The 5G rollout will be done on a standalone basis as the previously announced network sharing agreement with Bite did not get full regulatory approval.
Tele2 has today won 2x10 MHz in the first part of the Latvian 700 MHz spectrum auction. Combined with the previously acquired 5G spectrum in the 3.5 GHz band in Latvia, Tele2 now has everything in place to commence the rollout of nationwide 5G and improved 4G. In Estonia and Lithuania, both high and low frequency 5G auctions are expected to be conducted during 2022.
– Having secured crucial spectrum in Latvia, we will start our network upgrade there. Our 5G networks will increase speeds and coverage while lowering latency for both consumers and businesses going forward, providing the next generation of infrastructure with futureproof capacity, says Petras Masiulis, CEO Baltics at Tele2.
As a part of the 5G rollout in the Baltics, the existing 4G networks will be significantly upgraded as well, with increased speeds and capacity combined with improved coverage in each country.
Tele2 and Bite have previously partnered to investigate a shared mobile network and spectrum setup in Latvia and Lithuania. However, since the partnership only received partial regulatory approval, the two companies have decided to end the agreement.
About the auction
Tele2 today won 703 MHz-713 MHz and 758 MHz-768 MHz from 1 February 2022 until 31 January 2042, in the first part of the Latvian 700 MHz auction, to a sum of EUR 2.42 million. For more information about the auction, please visit https://www.sprk.gov.lv/en.
For more information, please contact:
Joel Ibson, Head of Corporate Communications, Phone: +46 766 26 44 00
Marcus Lindberg, Head of Investor Relations, Phone: +46 73 439 25 40
Tele2’s vision is to be the smartest telco in the world, enabling a society of unlimited possibilities. Ever since Tele2 was founded in 1993, we have continued to challenge prevailing norms and dusty monopolies. Today our networks enable mobile and fixed connectivity, telephony, data network services, TV, streaming and global IoT solutions for millions of customers. We drive growth through customer satisfaction and smart combined offerings. Tele2 has been listed on Nasdaq Stockholm since 1996. In 2020, Tele2 generated revenue of SEK 27 billion and reported an underlying EBITDAaL of SEK 9 billion. For latest news and definitions of measures, please see our homepage www.tele2.com.
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