Trump win sparks Swedish investment in Ericsson

Mats Qviberg, a well known Swedish business owner and investor, tweeted this morning that he has bought shares in telecommunications equipment maker Ericsson, after making a promise to buy the shares if Donald Trump won the US presidential election.

Qviberg’s tweet also notes that he “likes Börje Ekholm, and he has bought [shares]”. Ekholms was recently installed by Ericsson’s board to take over as president and CEO starting 16 January 2017, following news that the company was cutting headcount by thousands and losses were racking up in the face of mounting competition from the likes of Nokia and Hauwei. Previously, Ekholm held roles including CEO of Investor, the Swedish investment company, and is on the board of Alibaba.

There is no mention of how many Ericsson shares Qviberg acquired, or whether the investment was made in a personal capacity or via one of the companies that Qviberg helps run, such as Investment AB Öresund, where he is chairman of the board.

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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