Ericsson shareholder Industrivarden could sell its stake - Dagens Industri
Industrivarden [STO: INDU-A], the Swedish investment company, could sell its stake in the Swedish telco, Ericsson [STO: ERIC-B], according to Dagens Industri.
This comes after Industrivarden's managing director, Helena Stjernholm, announced via the company's annual report that Industrivarden will have "less patience with low-performing investments".
The Swedish business daily speculated that it is likely Industrivarden will conduct a larger sale this year as it will need the extra capital to acquire new portfolio companies. The paper wrote further that Industrivarden will probably have to participate in a new share issue by the Swedish steel company, SBAB, which will likely cost the investment company over SEK 1bn (EUR 106m).
The item noted the most likely sale candidate is the Swedish telecom giant, Ericsson, which would bring Industrivarden SEK 6.3bn (EUR 666m). It added Industrivarden's chairman, Fredrik Lundberg, has expressed "skepticism" towards Ericsson.
Ericsson's website noted Industrivarden is the company's second largest shareholder in terms of votes with a stake of 15.2%.
Dagens Industri