Tele2 AB (TLTZF.PK, TLTZY.PK), on Thursday, announced a EUR 140 million loan agreement with the European Investment Bank or EIB to support the roll-out of the 5G network and upgrade of the 4G network in Sweden.
The European Union has pledged its support to Tele2 for the expansion of a high-speed mobile network in Sweden by providing a loan of EUR 140 million from the European Investment Bank. This support aims to facilitate the development of a cutting-edge 5G network in collaboration with Telenor through the joint venture Net4Mobility.
Tele2 intends to utilize the loan to deploy an advanced 5G mobile network across Sweden to achieve a coverage of 99.9 percent of the population with 5G technology.
"Access to fast and stable connectivity is crucial for both businesses and individuals. 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," said Thomas Östros, President, EIB.
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