Ericsson reduces its share in Intracom S.A.
ERICSSON REDUCES ITS SHARE IN INTRACOM S.A. Ericsson has sold part of its shares in the Athens Stock Exchange listed company Intracom S.A. According to an agreement, the present major shareholders of Intracom S.A., Mr. S Kokkalis and C. Dimitriadis have purchased 60 percent of Ericsson's previous holding in Intracom S.A. Ericsson has now reduced its ownership in Intracom S.A from approximately 13 percent to 5 percent of the shares. Ericsson remains the third largest shareholder in Intracom S.A. Ericsson and Intracom S.A. will continue their cooperation, which is very beneficial to both companies. Extended cooperation in Greece as well as in international markets is envisaged by the two companies. Shares have been sold for a total amount of approx. 860 MSEK, corresponding to a net profit of slightly less than 700 MSEK. Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with the freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over. Please visit Ericsson's Press Room at: http://www.ericsson.se/pressroom FOR FURTHER INFORMATION, PLEASE CONTACT Lennart Grabe, Senior Vice President, Mergers & Acquisitions Phone: +46 8 719 4226 or +46 70 590 4182 E-mail: Lennart.Grabe@lme.ericsson.se Pia Gideon, Manager External Relations Phone: +46 8 719 2864 or +46 70 519 2864 E-mail: firstname.lastname@example.org ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/30/19981230BIT00110/bit0001.doc http://www.bit.se/bitonline/1998/12/30/19981230BIT00110/bit0002.pdf