Ericsson completes the sale of a controlling interest in Sielte SpA

Ericsson completes the sale of a controlling interest in Sielte SpA Ericsson has, through its Italian subsidiary Ericsson SpA, completed the sale of a controlling interest in Sielte SpA (formerly Cosir) to the Italian group Sieti/ Itel, following receipt of all statutory approvals. The transaction involves the sale of 80% of the equity of Sielte. The loss on sale has been reflected in the 1998 financial statements. Sielte reported revenues of Euro 216 millions with a net loss of Euro 42 millions in 1998 and had 2854 employees at the year-end. Ericsson is retaining a 20 % equity interest in Sielte as a long-term investment, and will collaborate with Sielte in the field of cable network construction. Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with 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 Pia Gideon, Director External Relations Phone: +46 8 719 2864, +46 70 519 2864 E-mail: pia.gideon@lme.ericsson.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/11/19990211BIT00660/bit0001.doc http://www.bit.se/bitonline/1999/02/11/19990211BIT00660/bit0002.pdf