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Ericsson increases stake in LG-Ericsson

Vodafone's Peter Kelly will take on the role of managing director at Virgin Media Business

Ericsson announced Thursday that it has acquired additional shares in infrastructure joint venture LG-Ericsson.

The deal takes the Swedish vendor’s stake to 75 per cent. Ericsson previously owned 50 per cent of the firm, plus one share.

Nortel had previously owned half of the firm until Ericsson acquired its part in July 2010. The company has 1,300 employees and is headquartered in Seoul.

LG-Ericsson provides 2G, 3G and 4G network equipment for operators and enterprises from a portfolio of mobile and fixed infrastructure, telecom services, software, broadband, voice and data network offerings for enterprises.

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