YOU ARE AT:Archived ArticlesERICSSON ACQUIRES REMAINING GE SHARES

ERICSSON ACQUIRES REMAINING GE SHARES

RICHARDSON, Texas-Ericsson Inc. acquired the remaining interest in GE Mobile Communications, a joint venture of Ericsson and General Electric Co.

The companies formed the joint venture in 1989 to manufacture and distribute cellular phones and equipment primarily in the United States and Canada. GE originally held a 40-percent interest in the company, until reducing its interest in 1992 to 20 percent of the voting stock.

Ericsson said it retains the right to sell GE-branded mobile communications products through 2000.

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