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

To: Eric L who wrote (4634)	4/6/2001 3:14:28 PM
From: Eric L	Read Replies (1) \| Respond to of 5390

re: Flextronics >> EU Approves Mobile Handset Purchase Friday April 6 AP - Belgium The European Union Commission said on Friday it has given antitrust clearance to Singapore's Flextronics International's purchase of LM Ericsson (news - web sites) Co.'s mobile handset production and distribution unit. ``Even after the acquisition Flextronics will continue to face strong competitive pressure from rivals as well as the strong buying power of customers such as Nokia (news - web sites), Motorola and Philips,'' the Commission said in a statement. Under the deal, announced in January, Flextronics will take over Ericsson's mobile phone factories in Brazil, Malaysia, Sweden, Britain and parts of a U.S. plant in Virginia. The deal with Flextronics will include the transfer of 4,200 employees and the layoff of about 700 others. << - Eric -