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Wednesday, 25 September 2019

Ericsson makes $1.2 billion provision in relation to U.S. probes, will impact third quarter

September 26, 2019

(Reuters) – Mobile telecom gear maker Ericsson said its third quarter results will be impacted by a 12 billion Swedish krona ($1.23 billion) provision it is making in relation to probes by the U.S. Securities and Exchange Commission and the Department Of Justice.

The investigations are linked to the company’s compliance with the U.S. Foreign Corrupt Practices Act (FCPA), Ericsson said in a statement.

(Reporting by Sathvik N in Bengaluru; Editing by Shri Navaratnam)

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