Ericsson shares set to fall after Vonage charge
STOCKHOLM, July 4 (Reuters) -Shares of Ericsson ERICb.ST were set to fall on Thursday, traders said, after the telecom equipment maker recorded another billion-dollar impairment charge for its $6.2 billion acquisition of cloud communications firm Vonage in 2021.
Ericsson had expected Vonage to boost earnings per share and free cash flow from 2024 onwards, but so far it has written down $4 billion or about two-thirds of the purchase price.
Reporting by Supantha Mukherjee in Stockholm; editing by Jason Neely
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