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Technology Stocks : Ericsson overlook?
ERIC 9.500-1.3%Nov 18 3:59 PM EST
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To: P2V who wrote (2054)9/25/1998 2:37:00 PM
From: P2V  Read Replies (2) of 5390
 
Ericsson has concluded successful tender offer in Brazil

Ericsson has concluded on September 16 a voluntary tender offer to acquire the
preferred shares (non-voting rights) of its listed subsidiary company Ericsson
Telecomunicações S.A. in Brazil. The offer was made through the wholly owned
subsidiary Sielte S.A.

Prior to the offer, Ericsson owned about 95% of the voting shares, 28% of the
non-voting shares, resulting in a 51% participation of the total shares in
Ericsson Telecomunicações S.A. As a result of the offer, Ericsson increased
its direct and indirect participation in Ericsson Telecomunicações S.A. to
97.66% of the non-voting shares and 97.29% of the total capital.

Ericsson's investment in acquiring the non-voting shares under the tender
offer plus a small amount of voting shares made available amounted to
R$ 728 million (equivalent to approximately USD 619 million). This transaction
is in line with the long-term strategy of Ericsson to increase its flexibility
to react to changing market conditions by achieving greater control over its
subsidiaries.

J.P. Morgan advised Ericsson in this transaction

Ericsson's 100,000 employees are active in more than 130 countries. Their
combined expertise in fixed and mobile networks, mobile phones and infocom
systems makes Ericsson a world-leading supplier in telecommunications.

FOR FURTHER INFORMATION, PLEASE CONTACT

Pia Gideon, Manager External Relations
Phone: +46 8 719 2864 or +46 70 519 2864
E-mail: pia.gideon@lme.ericsson.se

Johan Fant, Senior Vice President, Corporate Financial Control
Phone: +46 8 719 3707 or +46 70 540 4011
E-mail: johan.fant@lme.ericsson.se

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