Ericssons

Ericsson said it would book a 2.3 billion Swedish crown ($220 million) provision for an expected fine from US authorities for the breach of a settlement reached in 2019. Ericsson's share price surged 7.7% in afternoon trading, as analysts had expected a larger fine similar to the $1 billion it paid in 2019 as part of a bribery settlement. "This is an incredibly positive outcome given that the market expectations has been that they would get a fine of $1-2bn," JP Morgan analysts said in a note. Ericsson had in 2019…

Telecommunications specialist Ericsson will invest tens of millions of pounds into 6G research in the UK, working with universities and industry partners on network security, AI, and cognitive networks. The Swedish company, which has already been supplying 5G networks across the globe, said that this 10-year partnership would help drive development of next-gen 6G networks, expected to be commercially available in the 2030s. The investment isn’t just a vote of confidence in the UK, which has…

Ericsson announced plans to buy Vonage, which provides internet-based communications services, in November. Photo: TT NEWS AGENCY/via REUTERS…

The Committee on Foreign Investment in the U.S. is reviewing Ericssonproposed $6.2 billion acquisition of Vonage Holdings Corp., Ericsson said, adding another regulatory challenge for the Swedish telecom-equipment giant in Washington.Ericsson said the deal for provider of internet-based communication services had cleared all other U.S. and foreign regulatory approval requirements. It said the companies were working with the committee, known as Cfius, a Treasury Department-led panel of federal agencies that determines how…

Sweden's Ericsson said Wednesday that US authorities have found its disclosures about an internal inquiry into its conduct in Iraq, including suspected bribes to the Islamic State group, "insufficient".The news from the telecom equipment maker sent shares tumbling, and they were down over 12 percent around midday on the Stockholm stock exchange.The company's value had already taken a beating in recent weeks over the anticipated publication of a media investigation coordinated by the International Consortium of…