The voluntary offer submitted by Ericsson last month for all the shares in Axxessit was accepted by about 98% of the shareholder's votes in the Norwegian company.
The acceptance period for the voluntary offer submitted by Ericsson for all shares in Axxessit expired on July 22, 2005 at 4pm. As of July 25, 2005 there are registered acceptances of the voluntary offer for 11,330,629 shares, corresponding to about 98.0 % of the shares and votes in the company.
Consequently, the offer has exceeded the 90 % acceptance level.
Ericsson deems that the conditions for the offer are fulfilled and will complete the offer. After settlement Ericsson will own in aggregate 11,330,629 shares in Axxessit.
Following completion of the voluntary offer Ericsson will execute a mandatory offer and a forced transfer of the remaining shares in Axxessit pursuant to the Norwegian Public Limited Companies Act.
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