LM Ericsson Telephone Co (ERIC) Thursday announced that it has increased its stake in LG-Ericsson by accumulating additional shares of LG-Ericsson.
The company, which was holding a stake of 50% plus one share of LG-Ericsson previously, increased its stake to 75% with these additional shares.
Ericsson noted that LG-Ericsson is a joint venture between LG Electronics and Ericsson in which Ericsson acquired Nortel's part of the company in July 2010.
The company further stated that the joint venture provides customized solutions for operators and enterprises with a portfolio of mobile and fixed network infrastructure, telecom services, software, broadband, voice and data network solutions for enterprises.
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