The CEO of Swedish vendor Ericsson told The Wall Street Journal, that the firm does not expect to be part of any major M&A deals in the near future.
CEO Hans Vestberg has been reported as telling the newspaper that he does expect consolidation among…
The CEO of Swedish vendor Ericsson told The Wall Street Journal, that the firm does not expect to be part of any major M&A deals in the near future.
CEO Hans Vestberg has been reported as telling the newspaper that he does expect consolidation among telecoms equipments businesses, but that Ericsson for one will not be making any deals in its core wireless unit, as focus right now is on organic growth.
The Swedish based vendor will continue to keep an open eye out for any deals to help augment its services and multimedia units, but these will most likely be the acquisition of smaller companies, Vestberg said.
Ericsson’s recently bought Nortel Networks’ wireless unit for US$1.13bn.
Vestburg took over as CEO of the company in mid 2009.
