Divestment of Sony Ericsson completed
The previously announced divestment of Ericsson's share of Sony Ericsson to Sony, including the broad IP cross-licensing agreement, completed on February 15, 2012
Ericsson's gain on the transaction will be approximately SEK 7.5 billion and reported as 'Other operating income'
Ericsson (NASDAQ:ERIC) has today completed the divestment of its 50 percent stake in Sony Ericsson Mobile Communications AB ("Sony Ericsson"), including the broad IP cross-licensing agreement, jointly announced by Sony Corporation ("Sony") and Ericsson on October 27, 2011. This makes Sony Ericsson a wholly-owned subsidiary of Sony. The agreed cash consideration for the transaction is EUR 1.05 billion.
Ericsson's gain on the transaction will be approximately SEK 7.5 billion and will be reported in the first quarter result on April 25, 2012, as 'Other operating income' in the income statement.
NOTES TO EDITORS
Press release from October 27, 2011, about Sony to acquire Ericsson's share of Sony Ericsson: http://www.ericsson.com/thecompany/press/releases/2011/10/1558488
Our multimedia content is available at the broadcast room: www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers' networks servicing more than 2 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company had revenues of SEK 226,9 billion (USD 35,0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
Ericsson Investor Relations
Telefon: +46 10 719 00 00
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Ericsson via Thomson Reuters ONE
- Police hunt for motive as search for Malaysian jet spans hemispheres |
- Crimeans vote on union with Russia as troops build up rapidly |
- Malaysian PM says lost airliner was diverted deliberately |
- Democrats seek ways to limit Obamacare fallout after Florida defeat
- Indian Ocean poses daunting challenge in search for missing Malaysia plane