Finance News,
I found this message on the Danish "Borsen.dk" web page.
The text is in Swedish, but I translated it by Google.
----------------------------------------
Ericsson acquires Nortel's share in the joint venture of LG-Nortel.
21-04-2010 06:01
· Increased opportunities to meet the Korean market and reach new customers
· The second largest installed base including all of Korea's leading operators
· Cash purchase price Lingen on a debt free basis amounts to 242 million USD
· Joint venture's new name will be LG-Ericsson
Ericsson (NASDAQ: ERIC) has today signed an agreement to buy Nortel's
majority share (50% +1 share) in the joint venture (joint venture) LG-Nortel, a
company incorporated by LG Electronics and Nortel Networks. The transaction is subject to
competition authorities' approvals.
The agreement will allow Ericsson to boost its position marked on the Korean
market, while Ericsson has access to well-established
sales and good conditions for research and development in
country. In addition, the acquisition will give Ericsson an industrial platform and
opportunity to build new customer relationships.
The joint venture includes important agreement with Korean operator KT, LG
Telecom and SK Telecom.
LG-Ericsson is one of the largest telecom operators in Korea.
"Korea is one of the world's largest telecom markets, where consumers have a large
demand for new services. Thanks to cooperation with our new partner LG
Electronics, we are strengthening our position and improves our ability to
future technology shifts that LTE, "said Ericsson President and CEO Hans
Vestberg.
"LG Electronics is pleased to have Ericsson as a new partner in this
joint venture, "said Yong Nam, Vice Chairman and CEO of LG Electronics.
"Ericsson helps with global industry experience and technical expertise, as well
customers and employees will benefit from. We look forward to a fruitful
cooperation.
"LG, Ericsson will be able to offer the Korean market-leading technology
and customer support, not least the introduction of 4G. It provides an exciting new
perspective to our company and the Korean telecoms industry, "said LG-Nortel
CEO Jae Ryung Lee.
The joint venture formed in 2005 helped by LG Electronics
Telecommunication Systems and Nortel contributed its Korean commercial distribution.
The joint venture is focused on developing and marketing high
telecommunications systems as WCDMA, CDMA and LTE solutions for telecom service providers
in Korea, and telephony solutions and services to businesses. 2009, LG-Nortel
1 300 employees and had sales of approximately $ 650 million.
The joint venture will continue to have its headquarters in Seoul,
Republic of Korea.
In July 2009 it was decided Ericsson and the Korean government to cooperate in
development of a green ecosystem in 4G technology. LG, Ericsson will
continued to contribute to this initiative.
The deal is expected to have positive effect on Ericsson's profits within one year
implementation.
SEB Enskilda is acting as financial advisor to Ericsson in the transaction.
Information for editors:
Pictures of Hans Vestberg, Ericsson CEO:
/ ericsson / press / photos / management.shtml
Previously Announced information on Ericsson's acquisitions of Nortel assets:
# p/u/7/D3yDHV9O_5o
Korean President and CEO, Ericsson Agree to Meet and coop-rate-based 4G green
eco-systems
Ericsson's video content available to download from / broadcast_room
Ericsson is the leading supplier of equipment and services to
telecom operators worldwide. Ericsson is the market leader in
mobile technology for 2G, 3G and 4G, has a leading position in operating and
maintenance of mobile networks, and maintaining a network of more than 2 billion
users. The company's portfolio comprises infrastructure solutions
both fixed and mobile telephony, services, software, broadband and
multimedia solutions for telecom operators, enterprises and media. Through the joint
companies, Sony Ericsson and ST-Ericsson, the world's mobile users access to
phones with all the latest features.
Ericsson is advancing its vision "to be the driving force in a
communication-intensive world "through innovation, technology, and
Sustainable development is an important part in its work. With operations in 175
countries and more than 80 000 employees, Ericsson had a revenue in 2009 to 206.5
billion. Founded in 1876 and headquartered in Stockholm.
Its shares are listed on the NASDAQ OMX Stockholm and NASDAQ, New York.
/ ericsson press
/ technologyforgood
/ ericsson press
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail: media.relations @ ericsson.com
Ericsson Investor
///doktor
I found this message on the Danish "Borsen.dk" web page.
The text is in Swedish, but I translated it by Google.
----------------------------------------
Ericsson acquires Nortel's share in the joint venture of LG-Nortel.
21-04-2010 06:01
· Increased opportunities to meet the Korean market and reach new customers
· The second largest installed base including all of Korea's leading operators
· Cash purchase price Lingen on a debt free basis amounts to 242 million USD
· Joint venture's new name will be LG-Ericsson
Ericsson (NASDAQ: ERIC) has today signed an agreement to buy Nortel's
majority share (50% +1 share) in the joint venture (joint venture) LG-Nortel, a
company incorporated by LG Electronics and Nortel Networks. The transaction is subject to
competition authorities' approvals.
The agreement will allow Ericsson to boost its position marked on the Korean
market, while Ericsson has access to well-established
sales and good conditions for research and development in
country. In addition, the acquisition will give Ericsson an industrial platform and
opportunity to build new customer relationships.
The joint venture includes important agreement with Korean operator KT, LG
Telecom and SK Telecom.
LG-Ericsson is one of the largest telecom operators in Korea.
"Korea is one of the world's largest telecom markets, where consumers have a large
demand for new services. Thanks to cooperation with our new partner LG
Electronics, we are strengthening our position and improves our ability to
future technology shifts that LTE, "said Ericsson President and CEO Hans
Vestberg.
"LG Electronics is pleased to have Ericsson as a new partner in this
joint venture, "said Yong Nam, Vice Chairman and CEO of LG Electronics.
"Ericsson helps with global industry experience and technical expertise, as well
customers and employees will benefit from. We look forward to a fruitful
cooperation.
"LG, Ericsson will be able to offer the Korean market-leading technology
and customer support, not least the introduction of 4G. It provides an exciting new
perspective to our company and the Korean telecoms industry, "said LG-Nortel
CEO Jae Ryung Lee.
The joint venture formed in 2005 helped by LG Electronics
Telecommunication Systems and Nortel contributed its Korean commercial distribution.
The joint venture is focused on developing and marketing high
telecommunications systems as WCDMA, CDMA and LTE solutions for telecom service providers
in Korea, and telephony solutions and services to businesses. 2009, LG-Nortel
1 300 employees and had sales of approximately $ 650 million.
The joint venture will continue to have its headquarters in Seoul,
Republic of Korea.
In July 2009 it was decided Ericsson and the Korean government to cooperate in
development of a green ecosystem in 4G technology. LG, Ericsson will
continued to contribute to this initiative.
The deal is expected to have positive effect on Ericsson's profits within one year
implementation.
SEB Enskilda is acting as financial advisor to Ericsson in the transaction.
Information for editors:
Pictures of Hans Vestberg, Ericsson CEO:
/ ericsson / press / photos / management.shtml
Previously Announced information on Ericsson's acquisitions of Nortel assets:
# p/u/7/D3yDHV9O_5o
Korean President and CEO, Ericsson Agree to Meet and coop-rate-based 4G green
eco-systems
Ericsson's video content available to download from / broadcast_room
Ericsson is the leading supplier of equipment and services to
telecom operators worldwide. Ericsson is the market leader in
mobile technology for 2G, 3G and 4G, has a leading position in operating and
maintenance of mobile networks, and maintaining a network of more than 2 billion
users. The company's portfolio comprises infrastructure solutions
both fixed and mobile telephony, services, software, broadband and
multimedia solutions for telecom operators, enterprises and media. Through the joint
companies, Sony Ericsson and ST-Ericsson, the world's mobile users access to
phones with all the latest features.
Ericsson is advancing its vision "to be the driving force in a
communication-intensive world "through innovation, technology, and
Sustainable development is an important part in its work. With operations in 175
countries and more than 80 000 employees, Ericsson had a revenue in 2009 to 206.5
billion. Founded in 1876 and headquartered in Stockholm.
Its shares are listed on the NASDAQ OMX Stockholm and NASDAQ, New York.
/ ericsson press
/ technologyforgood
/ ericsson press
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail: media.relations @ ericsson.com
Ericsson Investor
///doktor