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Ericsson says ST-Ericsson charge mainly loan write off
December 20, 2012 / 8:10 AM / 5 years ago

Ericsson says ST-Ericsson charge mainly loan write off

STOCKHOLM, Dec 20 (Reuters) - The bulk of an 8 billion Swedish crown ($1.22 billion) charge Ericsson is taking for its loss-making joint venture ST-Ericsson comes from writing off loans to the company, Ericsson said on Thursday.

“It is mainly the write-down of loans which Ericsson has made to ST-Ericsson,” Ericsson spokesman Ola Rembe said.

The world’s top mobile network maker said earlier the charge, to be take in the fourth quarter, included write down of assets, as well as additional charges related to the available strategic options for the future of ST-Ericsson.

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