Telefonaktiebolaget LM Ericsson Class B (ERIC) has released an update.
Ericsson has announced a share acquisition offer for their C shares as part of the financing for their Long-Term Variable Compensation Program (LTV I 2023), targeting their executive team. The offer, which includes an agreement to purchase 4.1 million C shares from Investor AB, will run from May 14 to May 27, 2024, with a cash payment of approximately SEK 5 per share. Following the acquisition, the company plans to convert these shares to B shares, bringing the total number of Ericsson shares to over 3.3 billion.
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