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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: P2V who wrote (3512)	7/23/1999 3:19:00 AM
From: elmatador	Read Replies (1) \| Respond to of 5390

ERICSSON: MORGAN STANLEY CRITICIZES MANAGEMENT SWITCH -FTI (Nyhetsbyrån Direkt) - STOCKHOLM. Morgan Stanley meted out a harsh judgement of Ericsson in its latest analysis, saying the sudden change in management highlighted serious problems within the group, Swedish business paper Finanstidningen said in its issue Friday. The investment bank wrote in its analysis that Ericsson's problems were greater than what the market had anticipated. Furthermore, it blames reinstalled CEO Lars Ramqvist for a string of faulty investments. Morgan Stanley said Ramqvist had been responsible for two strategic missteps such as the group's failure to back up the CDMA technology and failure to see the point in launching cheaper mobile phones for low-end users. Confidence in the new management is low, the investment bank said, and underscored that Ramqvist had been out of operative corporate leadership for 15 months. Morgan Stanley added that newly-appointed Ericsson president Kurt Hellstrom lacks experience in the crisis-hit mobile telephone business. "The change in leadership is not completely encouraging," Morgan Stanley concluded in its analysis.