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Tele2 AB was originally known as NetCom Systems AB, and was formed in 1993 as a wholly-owned subsidiary of Kinnevik, a diversified Swedish industrial and communications group. In November 1999, NetCom AB acquired a 17.8% stake in Société Européene de Communication SA (SEC) and NetCom AB exchanged its 24.8% stake in Norwegian cellular operator NetCom ASA for newly-issued shares in SEC. In July 2000, NetCom AB tabled an offer for the total issued share capital of SEC, valuing the company at SKr34,900 million. The offer was accepted by SEC, and the merger was completed in October 2000. The merger brought together all the Tele2-branded operations under one management, to create a platform for the development and bundling of fixed-line, mobile, fixed-wireless, data, Internet, and related services to both companies’ customers on a pan-European basis. The company was renamed Tele2 AB in
February 2001.
Tele2 claims to Europe's leading alternative telecommunications operator, providing fixed-line, Internet access, cable TV, and data network services to around 27.8 million customers (as of December 2004) across 24 countries in Europe.
The company operates across three major segments, namely, mobile telephony, fixed telephony and Internet, and cable TV. However, the company is in the process of divesting its cable TV businesses.
At the end of 2004, Tele2’s major shareholders included Sweden-based Industriförvaltnings AB Kinnevik (28.3%).
