Tele2 to Use Its Cash for Expansion, Dagens Industri Reports

Tele2 AB, Sweden’s second-largest phone company, will use its cash and low debt to further expand in Russia and other countries, Dagens Industri reported, citing Chief Executive Officer Mats Granryd.

Tele2 will buy licenses or companies, focusing on mismanaged firms it can get cheap and turn around, in countries such as Slovenia, the Czech Republic, Albania, Ukraine, Azerbaijan and Georgia, the newspaper quoted Granryd as saying.