Resilient Tele2

In the first quarter of 2009, stripping out the impact of currency movements, Tele2’s net sales increased by 1% year-on-year to 10.12 billion Swedish krona (1.19 billion US dollars) and its EBITDA grew by 34% to 2.23 billion krona as the Stockholm-based operator cut operating costs.

Expanding its mobile operation in Russia, Tele2's capital spending rose 32% year-on-year to 1.17 billion krona in the first quarter of 2009. source: Tele2 statement