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Report: Ericsson Looking to Exit Sony Ericsson Joint Venture

Authored by Mark Hefflinger on March 18, 2009 - 10:13am.
Berlin - Sweden-based telecommunications firm Ericsson is looking into backing out of its Sony Ericsson joint venture, the German magazine Manager reported on Wednesday. According to the report, Sony (NYSE: SNE) has "expressed interest" in seeking out banks to help it purchase Ericsson's 50% stake in the company.

Such a deal could be hampered by the current global economic situation.

It's unclear why Ericsson would want to exit the venture at the current time.

Electronista noted that rumors have abounded about in-fighting at Sony Ericsson, over the design of the company's future handsets, and Sony's reported reluctance to release a PlayStation-branded phone.

 

Related Links:
http://www.electronista.com/articles/09/03/18/sony.buying.ericsson.stake/

http://snipurl.com/e39nk (Google Translate version of German article)

Published in DMW Daily, March 18, 2009
tags: Deals | Mobile | Sony | Acquisitions | Ericsson | Sony Ericsson | Cellphones |



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