ERICY halted in Sweden on msft rumors. M won't comment. This is from cnbc, if I heard it right: I'm half asleep.
Yeah, here it is:
Wednesday December 8, 7:36 am Eastern Time
FOCUS-Ericsson share suspended, Microsoft rumours
(Adds Microsoft no comment para 4, key shareholders para)
STOCKHOLM, Dec 8 (Reuters) - Trading in shares in Swedish telecoms equipment giant Ericsson was suspended at midday on Wednesday at 482 Swedish crowns with the Stockholm bourse to release further information soon after 1230 GMT.
Ericsson declined to comment on reports on Swedish radio that it was holding a press conference with U.S. giant Microsoft (NasdaqNM:MSFT - news) later on Wednesday or on Thursday.
''We are not commenting on anything except that further information will be released at 1230 GMT,'' Ericsson spokeswoman Helena Norrman told Reuters.
Another spokesman said there would not be a press conference today but there could be one on Thursday.
Microsoft in London declined to comment on reports about a news conference with Ericsson, the world's largest maker of mobile infrastructure systems and the third biggest maker of mobile phones.
However a Microsoft statement released on December 7, concerning customers meetings, said Microsoft president Steve Ballmer would be in Stockholm on Thursday.
One analyst said Microsoft was facing big problems with its mobile Windows CE operating system and could be interested in Ericsson's stake in the EPOC operating system.
The Symbian venture involving Ericsson, Nokia , Motorola (NYSE:MOT - news), Psion , and Japan's Matsushita Communication Industrial Co , builds mobile products around Psion's EPOC operating system -- a direct rival to Microsoft's Window CE operating system.
''They need to buy into Symbain and one way is to buy into an EPOC partner,'' said one London-based analyst who did not want to be named. ''All the rumours are around Microsoft. That seems to be the most likely deal.''
Speculation on Swedish Internet chat rooms said Ericsson -- which has announced two profit warnings in the past year -- was expected to announce some kind of merger or alliance, with rumours about Microsoft circulating.
Ericsson's top management was currently meeting in London, Swedish radio Ekot said.
Shares in Telefonaktiebolaget LM Ericsson -- Sweden's largest company -- have risen strongly since an upbeat nine month report in October, and surged this week to break past the 500 Swedish crown ($58.62) mark for the first time on Monday.
Ericsson has risen 44 percent in one month while the Stockholm all-share General index (^SFOG - news) has risen 18 percent, fuelled by a crossboard rally in IT and telecoms stocks.
|
