Ericsson shareholders sue for millions over withheld report

A group of shareholders is taking legal action against Ericsson over its alleged failure to disclose vital information with regard to an internal investigation into its business practices in Iraq.

The shareholders are seeking damages of $175-$300 million over claims the failure resulted in significant financial losses for the shareholders. As of 4th August 2023, 37 claimants have filed their case against Ericsson and more are expected to follow.

The controversy began in...

7 August 2023 | 5G

China Mobile share price retreats following Shanghai debut surge

China Mobile’s share price has retreated following a surge after it listed on the Shanghai Stock Exchange.

The world’s largest mobile operator by total subscribers was delisted from the New York Stock Exchange (NYSE) following the Trump administration’s decision to restrict investments in Chinese technology firms.

China Mobile’s shares increased by ~8.5 percent from its offering price of 57.58 yuan but over the next six hours had returned to around its offering...

5 January 2022 | China Mobile

China Mobile plans Shanghai listing following NYSE exile

China Mobile is planning to list on the Shanghai stock exchange after being exiled from the NYSE.

Last November, then-president Donald Trump signed an executive order to delist China Mobile, China Unicom, and China Telecom from the New York Stock Exchange on national security grounds.

The NYSE briefly backtracked on its plan to delist the Chinese telecoms giants after “further consultation with relevant regulatory authorities”. However, the exchange quickly changed...

18 May 2021 | Networks

New York Stock Exchange backtracks on plan to delist Chinese telcos

The New York Stock Exchange (NYSE) no longer plans to comply with a Trump administration order to delist Chinese telecoms groups.

NYSE began proceedings to delist China Mobile, China Unicom, and China Telecom last week after the order signed by President Trump in November.

The order is designed to prevent transactions in securities “designed to provide investment exposure to such securities, of any Communist Chinese military company” by any person in the...

5 January 2021 | Legislation & Government

Nokia CEO sets out restructuring after shares plunge 17 percent

Nokia CEO Pekka Lundmark has set out his restructuring plans after poor comparative results to Ericsson tanked the company’s shares.

“Our industry is undergoing profound changes. Industrial automation and digitalisation are increasing customer demand for high-performance networks, with a trend towards open interfaces, virtualisation, and cloud-native software,” said Lundmark.

“As we work to renew our strategy, we will ensure we are well-positioned to leverage...

29 October 2020 | Networks