Ericsson overlook? Message Board

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Technology Stocks : Ericsson overlook?

ERIC 9.560

+0.6%

Dec 8 3:59 PM EST

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To: Eric L who wrote (5143)	5/2/2003 1:01:35 AM
From: elmatador	Read Replies (1) of 5390

Svanberg swell Financial Times; Apr 30, 2003 A tad more esprit de corps at Sweden's Ericsson yesterday. The results presentation by chief executive Carl-Henric Svanberg, 50 - only in his third week at the group - was more confident than any managed by predecessor Kurt Hellström after 18 years. Indeed, the sense that the telecommunications equipment manufacturer may at last be getting a grip on its costs helped drive the shares up 20 per cent, which did not harm the outlook for Svanberg himself. He spent SKr 100m (€11m) buying Ericsson shares in February when he agreed to take the job. Yesterday's surge means he is sitting on a SKr 15m gain, although that was not something on which he dwelt while announcing a further 7,000 job cuts.

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