Ericsson increases shares in joint LG venture

Ericsson has revealed that it has increased its share in LG-Ericsson from 50 percent plus one share to 75 percent.

The Swedish firm has not disclosed how much it has paid for the additional shares in LG-Ericsson, which is a joint venture between LG Electronics and Ericsson.

Ericsson purchased shares in the company which were previously owned by Nortel in July 2010.

The joint venture is said to offer specifically tailored solutions to operators and enterprises, and focuses on a wide range of mobile and fixed network infrastructure, telecoms services, software, broadband, voice and data network solutions.

The organisation has a 1,300-strong workforce and its main headquarters are based in Seoul, South Korea. The joint venture has been fully consolidated by Ericsson since the acquisition in 2010.

Ericsson, meanwhile, is headquartered in the Swedish capital of Stockholm, has more than 100,000 employees and currently operates in 180 countries.

More News

VEON hires Huawei exec to lead global comms VEON hires Huawei exec to lead global comms VEON has appointed Huawei veteran Roland Sladek to drive its PR as the operator continues its attempt to reinvent itself as a tech company. More detail
Bouygues serves up new digital media content to fixed and mobile customers Bouygues serves up new digital media content to fixed and mobile customers Bouygues Telecom is giving subscribers free access to over 1,000 online publications, as it looks to tap into what it described as a surge in digital media usage. More detail
Altice consigns Portugal Telecom, SFR brands to history Altice consigns Portugal Telecom, SFR brands to history Altice will become a major brand in the telecoms world as the owner of Portugal Telecom and SFR unveiled a new global identity. More detail
Vodafone merges Maltese opco with Melita in new convergence play Vodafone merges Maltese opco with Melita in new convergence play Vodafone has agreed a deal with the owners of Melita to merge their operations in Malta. More detail
Telcos need to focus on context, conference hears Telcos need to focus on context, conference hears Context is key to the future success of telcos, speakers at the DigiWorld Future event have said. More detail
    

@eurocomms