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Electronics Production | December 21, 2005

EU clears Ericsson, Marconi deal

Ericsson has received the necessary clearances from a number of competition authorities, including the European Commission for the acquisition of key assets of Marconi Corporation plc's telecommunications business, which was announced on October 25, 2005.
The acquisition of key assets remains conditional on the approval of Marconi shareholders at an extraordinary general meeting on December 21, 2005 and on current consultations with trade unions. Subject to Marconi shareholders approving the transaction and trade union consultations being finalized, the transaction is expected to be completed in January 2006.
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