Telefonaktiebolaget LM Ericsson (ERIC) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Telefonaktiebolaget LM Ericsson has announced the sale of its US subsidiary iconectiv to Koch Equity Development LLC, expecting a cash benefit of approximately SEK 10.6 billion (USD 1.0 billion) after expenses. The transaction, which is anticipated to realize a one-off EBIT benefit of SEK 8.8 billion (USD 0.8 billion), is set to complete in the first half of 2025. Iconectiv, a provider of number portability solutions and various data services, has been part of Ericsson since 2012 and contributed SEK 1.0 billion (USD 0.1 billion) to Ericsson’s 2023 net income.
For further insights into ERIC stock, check out TipRanks’ Stock Analysis page.