STOCKHOLM, Sweden-Ericsson Inc. announced it sold 10.4 million shares of its Juniper Networks Inc. stock to fund its business opportunities and strengthen its focus on product and infrastructure development.
The companies said they will work together to support the creation of third-generation networks.
After the news, Juniper’s stock fell 6.8 percent to $145.
Juniper said it will buy back 1 million shares of its stock from Ericsson. Ericsson purchased the shares before Juniper’s initial public offering.
