Activist Cevian Capital trims Ericsson stake to 5.45%

Wed Sep 02 2020
Nikki Bailey (1366 articles)
Activist Cevian Capital trims Ericsson stake to 5.45%

Activist investor Cevian Capital has cut its holding in Ericsson  to 5.45% of the telecom equipment maker’s share capital in order to adjust the relative weights of its portfolio and to free up capital for new investments, Cevian co-founder Christer Gardell said on Wednesday.

A filing with the U.S. Securities and Exchange Commission, published late on Tuesday, showed Cevian now holds 181.4 million B-shares and 339,228 A-shares in Ericsson.

“Ericsson is still one of Cevian’s largest positions,” Gardell told Reuters.

“Our confidence in Ericsson remains strong as before and we continue to see a significant value potential in the company.”

Cevian, one of Ericsson’s biggest owners, held a 6.45% stake in Ericsson at the end of July, according to an earlier filing, meaning it has cut its holding by some 33 million B-shares since then.

Tags Ericsson
Nikki Bailey

Nikki Bailey

Nikki Bailey reports on US Stocks. She covers also economy and related aspects. She has been tracking US Stock markets for several years now. She is based in New York