Tele2 announced the launch of its new LTE-M network. LTE-M is a technology that greatly enhances Tele2’s offering in managed IoT connectivity, with a dedicated radio access technology designed for massive IoT applications.

As a cellular LPWA (low-power, wide area) technology, LTE-M brings seamless connectivity, supports lower-cost devices and longer battery life, and enables many new IoT use cases. LTE-M also supports existing IoT use cases previously based on 2G or 3G, making it a very versatile technology.

We are very excited to add LTE-M to the Tele2 IoT connectivity offering. LTE-M is truly a pivotal technology for IoT, and will be a key enabler for the massive IoT future, says Cyril Deschanel, Managing Director of Tele2 IoT Business Unit.

Tele2’s IoT customers currently enjoy a global connectivity reach with nearly 500 networks in more than 180 countries. LTE-M was initially launched in Tele2’s Swedish network, with an ongoing roaming rollout focusing on Europe and the US.

Earlier this month, after a thorough M&A process with a large number of potential buyers, Tele2 concluded that selling Tele2 Germany to the local management was the most value-added alternative. As such, Tele2 has today entered into an agreement to sell its German business to the Tele2 Germany management for an enterprise value of up to EUR 22.8 million, dependent upon the financial performance of the business until the end of 2024. The divestment is another step in Tele2’s long-term strategy to consolidate its geographical footprint.

The German management has done an impressive job over the years by creating significant value despite having a portfolio of products in structural decline. They are clearly best suited to manage the German business going forward, while Tele2 can continue its focus on core markets and products. I would like to thank the German management for their contribution to Tele2, and I wish them all the best going forward, says Kjell Johnsen, President and CEO of Tele2.

The transaction is expected to close in December 2020. Following the announced agreement, Tele2 Germany will be reported separately as discontinued operations in the income statement, with a retrospective effect on previous periods.