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. Last Updated: 07/27/2016

Tele2 Profitable, Expanding

HELSINKI &mdash Tele2, Sweden's second-largest telephone company, reported fourth-quarter net income of 1.5 billion kronor ($230 million), from 1.1 billion kronor a year earlier, chief executive Mats Granryd said in a statement Tuesday.

Revenue from continuing operations gained 1.6 percent to 10.1 billion kronor. The margin for earnings before interest, tax, depreciation and amortization increased to 25 percent in the quarter from 23 percent a year earlier.

The company signed up 755,000 new Russian customers in the quarter, 34 percent less than a year earlier, to reach 18.4 million users. Tele2 plans to seek new mobile licenses in Russia this year. Tele2 is considering possible acquisition targets in Russia including mobile provider Smarts.

(Bloomberg)