Swedish Telecoms company Tele2 has shortlisted MindShare, ZenithOptimedia, Carat and BLM for its £20m UK planning and buying account.
Zed Media, ZenithOptimedia's direct arm, is incumbent.
The news comes as shortlisted agencies await a decision on telecom giant O2's media review.
A decision is believed to be imminent - though some agency insiders have suggested that O2 is more likely to announce its new line-up of agencies in the new year.
Incumbents PHD, The Allmond Partnership and ZenithOptimedia are going up against Starcom Motive, MPG and Vizeum for the £30m account.
O2 put its media business up for review in November.