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Tele2 Q1 core profit tops forecast

Swedish telecom operator Tele2 posted larger-than-expected first-quarter core earnings and said the current global downturn was affecting some parts of its business.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose to 2.23 billion Swedish crowns ($256 million) compared with the average forecast in a Reuters poll of 2.07 billion crowns and 1.66 billion a year earlier.

The company said some parts of its operations were being impacted by the global recession, a change from the previous quarter when Tele2 said it had not seen any effect. (Reuters)