Tele2 shares rise despite loss

Swedish telecoms operator Tele2 has posted a loss of 2.778 billion kronor for the third quarter. This compares with a profit of 1.026 billion kronor in the same period last year.

The company’s results were weighed down by a loss of 947 million kronor sustained through the sale of its French operations.

The company’s turnover rose to 13.749 billion kronor, compared with 12.381 billion in the third quarter of 2005.

Tele2’s share price rose in Stockholm following the report. The results were better than expected, and analysts were pleased by the company’s statement that it planned to divest further underperforming areas.