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International Internet Magazine. Baltic States news & analytics Monday, 28.05.2018, 12:50

Latvia`s Tele2 invests EUR 7.75 mln in development in nine months

BC, Riga, 15.12.2016.Print version
Latvia’s Tele2 mobile operator in the first nine months of this year invested EUR 7.75 mln in development, with the majority of investments going to development of the 4G network infrastructure, the company said BC.

The company’s representatives said that Tele2 has significantly increased 4G capacity across Latvia, providing Tele2 4G Internet to 98% of Latvian residents. The company this year has built 395 4G base stations across Latvia.

"Today we provide not only the broadest 4G coverage to our customers or half of Latvian residents, but also the fastest mobile Internet in Latvia. Measurements of the Public Utilities Commission in about 400 locations in the Latvian territory show that Tele2 demonstrates the best results," said Tele2 board chairman Valdis Vancovics.

As reported, Latvian mobile operator Tele2 closed the first nine months of 2016 with EUR 78.25 miln in turnover, which was a 5.8% rise against the same period a year ago, while the company's earnings before interest, taxes, depreciation and amortization (EBITDA) grew 6.1% y-o-y to EUR 24.53 mln.

Latvia's Tele2, founded in 1997, belongs to Sweden's Tele2 Holdings, which operates in nine countries. According to the company's representatives, Tele2 commands 45% of the Latvian market.

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