Swedish vendor Ericsson has acquired an additional 25% stake in its South Korea-based joint venture LG-Ericsson. The deal value was not disclosed.
In July 2010, Ericsson bought Nortel Network’s 50% plus one share majority shareholding in LG-Nortel, the…
Swedish vendor Ericsson has acquired an additional 25% stake in its South Korea-based joint venture LG-Ericsson. The deal value was not disclosed.
In July 2010, Ericsson bought Nortel Network’s 50% plus one share majority shareholding in LG-Nortel, the joint venture with LG Electronics, for US$242m.
Today, the stake increase in LG-Ericsson to 75% is aimed at reinforcing Ericsson’s footprint in the South Korean market.
The JV is a supplier to several Korean operators such as KT, LG Telecom and SK Telecom.
