Ericsson (ERIC) pushed deeper into its joint venture with LG Electronics, announcing today that it has increased its stake in LG-Ericsson from 50% to 75%. Financial terms of the share purchase were not released.
Ericsson inherited its initial stake in the venture following its acquisition of assets from Nortel Networks in 2010. The original LG-Nortel JV was established in 2005. LG-Ericsson currently employs 1,300 people and is headquartered in South Korea.
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