Ericsson Is Considering a Reverse Stock Split, Direkt Says
By Gabriella Grotte
Stockholm, Sept. 30 (Bloomberg) -- Ericsson AB is reviewing the possibility of a reverse stock split after a 91 percent slump in its shares this year, the newswire Direkt said, citing Michael Treschow, chairman of the world's biggest cellular-network maker.
``It's something we're looking at,'' Treschow said. ``We don't want to have a share price at this level for all future.''
Ericsson shares fell as much as 0.32 krona, or 8.2 percent, to 3.6 kronor today, dropping below the price of 3.80 kronor set in this month's $3.2 billion rights offer. The Stockholm-based company and its rivals are losing money and firing employees as operators around the world cut spending.
Last week, Nortel Networks Corp., North America's second- biggest phone-gear maker, cut its third-quarter sales forecast for the second time and said it plans a reverse stock split.
(Direkt, 9/30)
For Web site: www.direkt.se
Ich hoffe Du kommst da heil wieder raus.
Good Trades
Nowonder
