Ericsson acquires the portion Of nortel in the joint venture lg -Nortel Tweet

The company Of ericsson reported the conclusion of agreement about the purchase of that belonging Of nortel control block of shares (50%+1 action) in a joint venture in the companies lg Of electronics and Nortel Of networks - lg -Nortel. Transaction must be approved by the appropriate controls.

This acquisition, from the words Of ericsson, will allow it to considerably increase its presence on the Korean market and to obtain the fixed channel of sales, and also good possibilities for performing of scientific research work in the country. Moreover, as a result the transaction Of ericsson will obtain the production base and the possibility of establishing the interrelations with the new clients.

In CP are concluded important contracts with the Korean operators, these as KT, lg Of telecom and SK Of telecom.

As they consider in the company, lg -Ericsson will become one of the most important players on the telecommunication market of Korea. Main office CP will remain in the republic of Korea in Seoul.

In July 2009 Ericsson and government of Korea concluded the cooperation deal in the field of creating “green” ecosystem on the base of technologies 4G. It is expected that the experience CP lg -Ericsson will allow it to make its contribution to this initiative.

As it is expected, transaction will have a positive effect on an increase in the profit Of ericsson after only year.

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