Tele2 Germany completed the acquisition of German business from Tele2, a European telecommunications operator, for $27m. "The German management has done an impressive job during the years by creating significant value despite having a portfolio of products in structural decline. They are clearly best suited to manage the German business going forward, while Tele2 can continue its focus on core markets and products. I would like to thank the German management for their contribution to Tele2 and I wish them all the best going forward," Kjell Johnsen, Tele2 President and CEO.