SEOUL, March 18 (Reuters) - Sweden's Ericsson will buy a controlling stake in a joint venture between South Korea's LG Electronics and Nortel Networks Corp, the Seoul Economic Daily's Web service reported Thursday.
Ericsson will announce an agreement on Friday to buy a 50 percent stake plus one share in LG-Nortel from Nortel, the newspaper said, without specifying sources.
Ericsson representatives were not immediately available for comment. A LG spokesman declined to comment.
(Reporting by Rhee So-eui and Miyoung Kim; Editing by Jonathan Hopfner)
((soeui.rhee@thomsonreuters.com; +82 2 3704 5650; Reuters Messaging: soeui.rhee.reuters.com@reuters.net)) Keywords: ERICSSON LGNORTEL/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Ericsson will announce an agreement on Friday to buy a 50 percent stake plus one share in LG-Nortel from Nortel, the newspaper said, without specifying sources.
Ericsson representatives were not immediately available for comment. A LG spokesman declined to comment.
(Reporting by Rhee So-eui and Miyoung Kim; Editing by Jonathan Hopfner)
((soeui.rhee@thomsonreuters.com; +82 2 3704 5650; Reuters Messaging: soeui.rhee.reuters.com@reuters.net)) Keywords: ERICSSON LGNORTEL/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
