Tele2 has leaned on the European Investment Bank (EIB) to expand its 4G mobile network in Sweden and the Netherlands.
The Sweden-based operator has negotiated a €125 million loan over the next two years to boost coverage in its two largest markets by revenue.
According to its half year financial statement, Tele2 has reached 87 percent 2G and 4G mobile network coverage in Sweden, with plans to reach 90 percent coverage by the end of this year.
The report noted that independent mapping company OpenSignal ranked Tele2 as having the best 4G coverage in Sweden, and as the number one Nordic operator during the second quarter.
However, Tele2 saw sales in Sweden fall three percent year-on-year to SEK6.1 billion (€630m) in the first half of the year.
In the Netherlands, where revenues grew four percent to SEK2.9 billion (€300m) over the same period, the operator is rolling out LTE-Advanced (LTE-A).
The operator said its LTE-A network had reached 97 percent outdoor population coverage and 81 percent indoor population coverage at the end of June.
Tele2 has 3.7 million mobile customers in Sweden and 932,000 subscribers in the Netherlands.
Earlier this week, the European Commission approved the company’s SEK2.9 billion acquisition of TDC Sweden.
The company has launched a rights issue to fund the deal.