October 20, 2017 / 6:44 AM / a month ago

Ericsson CFO says rights issue is not on the cards

STOCKHOLM, Oct 20 (Reuters) - Loss-making mobile telecom equipment maker Ericsson said it would not need fresh capital to see it through a restructuring process aimed at cutting costs by 10 billion Swedish crowns ($1.2 billion) and doubling profitability.

“It is not on the cards at all,” Ericsson CFO Carl Mellander said. “Our cash flow is a strong point in the result today and we feel that we have a balance sheet that can cope with the execution of this strategy.”

$1 = 8.1444 Swedish crowns Reporting by Simon Johnson and Olof Swahnberg; editing by Niklas Pollard

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