Why did Tele2 fall on 6 October?
Written after the close on
Tele2 −2.37% · OMX Stockholm 30 +0.99%
Tele2 fell sharply as BlackRock's stake crossed the 10% voting threshold. Over the last five trading days Tele2 fell very sharply while the OMX Stockholm 30 was roughly unchanged, so the decline was specific to the company. The likely drivers were a broker downgrade on expectations of slower growth and a new wave of Nordic telecom consolidation, plus a major mobile network outage that hit Tele2 and Comviq customers. The next scheduled event is the third-quarter report in mid-October, which will show whether the pressure on growth is easing.
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