Ericsson American Depositary Shares - ERIC STOCK NEWS

Ericsson (NASDAQ: ERIC) announced the conclusion of its monitorship and plea agreement on June 2, 2024, following the certification of its anti-corruption program by an independent monitor in March 2024. The monitorship, which began in June 2020, was part of a Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice (DOJ) stemming from violations of the Foreign Corrupt Practices Act (FCPA). The monitor's role was to evaluate and certify Ericsson's global compliance program. Börje Ekholm, CEO of Ericsson, emphasized the company's commitment to integrity and ongoing cooperation with DOJ and SEC investigations.

As of May 31, 2024, Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) reported a total of 3,348,251,735 shares, split into 261,755,983 A shares and 3,086,495,752 B shares. The total number of votes stands at 570,405,558.2, with A shares contributing 261,755,983 votes and B shares 308,649,575.2 votes. This increase follows the issue of 4.1 million C shares in May 2024, which were repurchased and converted into B shares to support the Long-Term Variable Compensation Program LTV I 2023. Ericsson currently holds 15,579,561 B shares as treasury stock. This update adheres to the Swedish Financial Instruments Trading Act and was made public on May 31, 2024, at 08:00 CEST.

Ericsson (NASDAQ: ERIC) has appointed its Nomination Committee for the Annual General Meeting (AGM) 2025, in line with the instructions approved at the AGM 2012. The committee includes Johan Forssell (Investor AB), Helena Stjernholm (AB Industrivärden), Anders Oscarsson (AMF Tjänstepension & AMF Fonder), Christer Gardell (Cevian Capital), and Jan Carlson (Chair of the Board of Directors). Johan Forssell will serve as the Chair of the Nomination Committee.

Shareholders are invited to submit proposals to the Nomination Committee, ensuring these are received well in advance of the AGM for consideration. Contact details for the Nomination Committee and additional company information are provided for further communication and updates.

T-Mobile has expanded its Connected Workplace offering by integrating Cradlepoint’s enterprise-grade 5G networking solutions. This new service combines T-Mobile’s 5G Business Internet with Cradlepoint routers, adapters, and NetCloud management platform to deliver a comprehensive 5G Fixed Wireless Access (FWA) solution. With onsite installation and 24/7 support, the service aims to meet the diverse needs of businesses of all sizes. The global FWA market is expected to grow from 130 million connections in 2023 to 330 million by 2029, with 85% being 5G. This collaboration is designed to help businesses optimize network infrastructure, reduce IT workload, and enhance operational efficiency.

Dell Technologies and Ericsson have established a strategic partnership to accelerate the transformation of telecom network clouds. The collaboration aims to develop tailored network cloud infrastructure plans and provide integrated support to communications service providers (CSPs).

Key initiatives include the commercial introduction of Ericsson Cloud RAN software on Dell PowerEdge servers, which promises continuous testing and lifecycle management. The partnership also seeks to address CSPs' concerns about network transformation, as highlighted by a recent MeriTalk study.

This study found that 96% of CSPs feel their network transformation efforts are lagging due to time, budget, reliability, and security issues. The partnership aims to mitigate these challenges with simple, reliable, and energy-efficient Open RAN solutions.

The joint efforts will focus on co-developing services to simplify the deployment process and support any integrated solution comprehensively. The collaboration builds on previous efforts to leverage Ericsson's Cloud RAN software and Dell's infrastructure to drive business growth and network innovation.

Vonage, a global leader in cloud communications and part of Ericsson (NASDAQ: ERIC), has expanded its Vonage Premier for Service Cloud Voice solution. This expansion includes integration with Salesforce Einstein Conversation Insights, providing AI-driven insights and analytics to enhance customer and agent experiences.

This integration allows real-time visibility into conversational data such as voice transcripts and caller sentiment. It further enables recording and analysis of calls for specific keywords and phrases, helping agents and supervisors improve interactions through actionable data. The partnership highlights a growing trend of AI and analytics in the contact center market.

Ericsson has announced that Fadi Pharaon, Senior Vice President of Market Area Middle East & Africa, is leaving to pursue other opportunities after 26 years with the company. The CEO praised Pharaon's contributions, and a successor will be named soon.

Ericsson's annual general meeting authorized the company to transfer shares for tax and social security liabilities. The company will retain and sell 60% of vested shares under the LTV 2021 program. Ericsson holds 12,184,543 shares and may transfer up to 345,673 shares on Nasdaq Stockholm. The transfer period is from May 3, 2024, to the annual general meeting in 2025.

Ericsson, a telecommunications company, announced an acquisition offer for C shares to finance the Long-Term Variable Compensation Program LTV I 2023 for its executive team. The offer includes all 4.1 million C shares issued for the program, with Investor AB subscribing to them. Once acquired, the C shares will be converted to B shares, increasing Ericsson's total shares to 3,348,251,735. The company currently holds 12,184,543 B shares as treasury stock.