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Technology Stocks : Ericsson overlook?

ERIC 9.625

+1.1%

3:59 PM EST

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To: Mika Kukkanen who wrote (3662)	9/8/1999 7:56:00 AM
From: DMaA	of 5390

WSJ Denial - "an unfortunate remark:: September 6, 1999 Ericsson Shareholder Denies Stake For Sale STOCKHOLM -- A key shareholder in Swedish telecommunications giant LM Ericsson AB (ERICY) Monday denied speculation that its 28.1% voting stake may be up for sale. "We have absolutely no intention of selling Ericsson, we believe strongly in the company and its future," Industrivaerden AB (S.IVD) Chief executive Claes Reuterskiold told Dow Jones Newswires. The investment company has 2.4% of the shares but 28.1% of the votes in Ericsson, and shares control over the company with Investor AB (S.INV), the Wallenberg family's investment company. Swedish business daily newspaper Dagens Industri reported Saturday that Reuterskiold, at an informal meeting with investors, had hinted that the Ericsson stake could be for sale. "If a bid of SEK400 a share would emerge then the board would have a hard time saying no," he was reported by the newspaper as saying. Reuterskiold told Dow Jones Newswires: "It was an unfortunate remark and I did not mean that Ericsson is for sale." He called the price discussion "hypothetical". Friday, Ericsson shares ended at SEK270.50 in Stockholm, up SEK6.

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