Ericsson overlook? Message Board

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Technology Stocks : Ericsson overlook?

ERIC 9.720

-1.4%

3:59 PM EST

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To: JDN who wrote (3870)	1/28/2000 12:52:00 PM
From: Manx	Read Replies (2) of 5390

Friday January 28, 12:33 pm Eastern Time Ericsson plans 4:1 share split in May STOCKHOLM, Jan 28 (Reuters) - Swedish telecoms group Ericsson , the leading mobile infrastructure maker, said it would recommend shareholders at the general shareholders meeting on March 31 to split shares four-for-one in May. ``It's a normal four-for-one split,' Ericsson vice president of external relations Pia Gideon told Reuters. ``The plan is for the split to take place in May.' Ericsson's board will propose a bonus issue followed by a share split. Ericsson posted just a 10 percent fall in pre-tax profit to 16.4 billion crowns ($1.88 billion) compared to an average forecast of 15.5 billion in a Reuters poll of 25 analysts. Sales rose 17 percent to 215.4 billion crowns. Telefonaktiebolaget LM Ericsson shares closed nine percent higher at 629 crowns as the market welcomed its results and growth outlook for 2000. Ericsson shares have risen over 130 percent since it released an upbeat nine month report in late October. Related News Categories: US Market News

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