STOCKHOLM, Sweden-L.M. Ericsson acquired the majority of the voting power in its Brazilian associate, Ericsson Telecommunicacoes S.A.
Ericsson traded an equal number of preferential shares for voting shares with Matel S.A., the local controlling shareholder in Ericsson Telecommunicacoes.
Ericsson Telecommunicacoes will now become a consolidated subsidiary of L.M. Ericsson, but Ericsson’s total share in the Brazilian affiliate will remain 50.5 percent.
Ericsson said other minority owners in the company will be given the opportunity to exchange their common shares with voting power for Ericsson’s preferential shares.
