Ericsson has reached an understanding to sell a controlling interest in its subsidiary Sielte Spa
Ericsson has reached an understanding to sell a controlling interest in its subsidiary Sielte Spa Ericsson has, through its Italian subsidiary Ericsson Spa, reached an understanding with the Italian group Sieti/Itel to sell a controlling interest in Sielte Spa (formerly Cosir). The revenues of Sielte in 1998 amount to approximately ITL 419 billion (216 millions of Euro). The transaction, which is subject to approval by the Ericsson Group Board and the Italian anti-trust authorities, involves the sale of 80 percent of Sielte's outstanding shares and is expected to close by the end of January