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Tele2 AB (publ) vs Millicom International Cellular: Which Stock Looks Stronger in 2026?

Tele2 AB (publ) leads structurally, with growth as the clearest single gap between the two profiles. The market setup is broadly comparable for both — no clear directional signal from price behavior. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels. Peer scores are normalised within each company's primary universe (TEL2-B.ST: STOXX 600, TIGO: Russell 1000).

Updated 2026-06-14

Growth still does most of the heavy lifting in this comparison. Tele2 AB (publ) leads by 9 points on the overall comparison score.

INDUSTRY COMPARISON

Both operate in: Telecom Services

This comparison is based on industry proximity, not on functional trajectory similarity. TEL2-B.ST and TIGO share the same industry classification.

For a similarity-based comparison, see how Tele2 AB (publ) and TIGO each position within their functional peer groups in AssetNext.

Peer-Relative Score
TEL2-B.ST
Tele2 AB (publ)
74
Peer-Score
Signal qualityHigh
Peer basis: STOXX 600
vs
TIGO
Millicom International Cellular S.A.
65
Peer-Score
Signal qualityMedium
Peer basis: Russell 1000

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The clearest separation appears in growth.

Dimension spread: TEL2-B.ST vs TIGO Profitability 79 72 Stability 46 41 Valuation 81 83 Growth 81 50 TEL2-B.ST TIGO
Gap Ranking
#1 Growth +31
#2 Profitability +7
#3 Stability +5
#4 Valuation +2
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for TEL2-B.ST and TIGO Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer TEL2-B.STTIGO Relative valuation Structural strength

Tele2 AB (publ) is stronger, but the price setup still looks more supportive for Millicom International Cellular S.A..

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Relative Position vs Comparable Companies
Growth
Both profiles are strong on growth, but Tele2 AB (publ) leads clearly.
Growth — Dominant Gap
TEL2-B.ST
81
TIGO
50
Gap+31in favour of TEL2-B.ST

Earnings growth is one contributing factor within the growth lead.

What keeps the gap from being one-sided

Millicom International Cellular S.A. still carries lower volatility exposure — that difference is real enough to prevent the comparison from becoming one-sided.

What this means for the comparison

Growth clearly separates the pair, while the broader read stays strong rather than one-way.

Explore full peer positioning in AssetNext

Break down the TEL2-B.ST vs TIGO comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar growth-driven comparisons

Explore how TEL2-B.ST and TIGO each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.