Ericsson (NASDAQ: ERIC) has decided to apply for delisting of the company's series B shares from the London Stock Exchange (LSE). Ericsson anticipates that the delisting will take effect on April 14, 2008.
The Ericsson series B shares have been listed on the LSE since 1960. In recent years, trading in the company's series B shares on the LSE has corresponded to less than 1 percent of the total trade in the company's series B shares, which in Ericsson's view does not justify the costs of maintaining the listing.
Following the delisting, all trading in the Ericsson series B shares will be concentrated to OMX Nordic Exchange Stockholm and Nasdaq. The Ericsson shares have previously been delisted from the stock exchanges in Paris and Zürich as well as three German exchanges.
The delisting refers to Telefonaktiebolaget LM Ericsson series B shares of SEK1.00 each in the capital of the Company (ISIN: SE0000108656). The Ericsson series B shares has been listed on the official list maintained by the Financial Services Authority (FSA) and has been admitted to trading on the main market for listed securities of the LSE. Ericsson will now apply to the FSA for the cancellation of the listing of the series B shares on the official list and to the LSE for the cancellation of the admission of the series B shares to trading on the LSE. The cancellations are subject to a 20 business day notice.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 185 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm, London and NASDAQ stock exchanges.
For more information, visit www.ericsson.com or www.ericsson.mobi.
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