Tele2 Reports Mixed 2Q; Com Hem Acquisition Continues to Provide Cost-Cutting Synergies
Tele2 posted mixed second-quarter results as revenue came slightly below consensus and EBITDA slightly exceeded the Street’s expectation. Tele2 reported a 2% drop in revenue on a pro forma basis, as if the Com Hem acquisition occurred at the beginning of 2018. The firm also proposed an extraordinary dividend of SEK 6 per share to distribute the proceeds from the sale of the Croatian and Netherlands segments. We don’t anticipate any significant changes to our SEK 112 fair value estimate. We conti...Tele2 is engaged as a telecom operator. Co. provides mobile communication services, fixed broadband and telephony, data network services and content services. The mobile service comprises various types of subscriptions for residential and business customers as well as prepaid cards. Fixed broadband includes direct access, which is its own services based on access via copper cable and other forms of access, such as fibre networks, wireless broadband and metropolitan area networks. Fixed telephony includes resold products within fixed telephony. The product portfolio within resold fixed telephony consists of prefix telephony, pre-selection (dial the number without a prefix) and subscriptions.
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