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Industry: Email Alert RSS FeedEricsson sells its holding in Symbian Ltd to Nokia
Telecomworldwire, June 24, 2008
TELECOMWORLDWIRE-24 June 2008-Ericsson sells its holding in Symbian Ltd to Nokia(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish telecomms solutions provider Ericsson (OMX Stockholm: ERIC A) (OMX Stockholm: ERIC B) (NASDAQ: ERIC) announced on Tuesday (24 June) that it has agreed to sell its shares in the mobile phone operating systems developer Symbian Ltd to Nokia (NYSE: NOK) (OMX Helsinki: NOK1V).
Ericsson is selling its 15.6% stake for an undisclosed cash consideration.
"As Ericsson no longer manufactures mobile phones the shareholding in the company is not strategic for Ericsson," Ericsson said.
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Ericsson, headquartered in Stockholm, Sweden, provides technology and services to telecomms operators all over the world.
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