View in Other Languages 爱立信(NASDAQ:ERIC)以2.42亿美元收购LG-北电股份 Ericsson (NASDAQ:ERIC) Buys LG-Nortel Stake For $242M Ericsson (NASDAQ:ERIC), 2.42억 달러(U$)에 LG-Nortel 지분 매입 Ericsson (NASDAQ:ERIC)、 LG-Nortel権益を2億4200万ドルで買収 愛立信(NASDAQ:ERIC)以2.42億美元收購LG-北電股份 Ericsson NASDAQ:ERIC تشتري حصة LG-Nortel مقابل 242 مليون دولار أمريكي 
Ericsson (NASDAQ:ERIC) Buys LG-Nortel Stake For $242M
Ericsson (NASDAQ:ERIC) Buys LG-Nortel Stake For $242M

Seoul, April 22, 2010 AEST (ABN Newswire) - Swedish mobile network equipment maker Telefon AB LM Ericsson (googlechartNASDAQ:ERIC) has bought Nortel's controlling stake in LG-Nortel, a joint venture between Nortel Networks and LG Electronics Inc. (googlechartSEO:066570). Nortel will sell its 50 per cent plus one share stake in LG-Nortel to Ericsson for US$242 million in Cash subject to certain purchase price adjustments.

Nortel filed for bankruptcy protection in January and was looking for a buyer for its 50 per cent plus one share in LG-Nortel. Ericsson aims to expand its footprint in Korean market through the acquisition and expects the joint venture to bring a positive effect on its earnings within a year after closing.

The joint venture will be renamed LG-Ericsson and is expected to become one of the major telecom players in Korea. LG Electronics said it remained committed to maintaining its strategic investor status in LG-Nortel. The joint venture will continue to be headquartered in Seoul, South Korea.

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Michelle Liang
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Email: michelle.liang@abnnewswire.net


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