Ericsson (ERIC) said Friday it has completed the sale of its iconectiv unit to Koch Equity Development, the main investment and acquisition arm of Koch, for expected cash proceeds of around 9.9 billion Swedish krona ($1 billion) after taxes, transaction costs, and other liabilities.
Ericsson said it will report a one-time operating profit gain of about 7.6 billion krona in Q3.
Shares of the company were up about 2.9% in recent afternoon trading.
Price: 7.91, Change: +0.22, Percent Change: +2.86
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