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Ericsson’s Top Investor Professes Confidence in Pressured Board

April 21, 2022, 7:16 AM

The largest shareholder in Ericsson AB says it has “full confidence” in the telecom networks company’s board and management even with the prospect of new fines related to a corruption scandal in Iraq.

While Investor AB has “zero tolerance for unethical business behavior,” the company continues to support Ericsson, it said in an earnings report on Thursday. The maker of 5G networks now faces a preliminary investigation by the Swedish Prosecution Authority into suspected bribery in Iraq, the TT news agency reported on Wednesday.

Ericsson last week indicated that it faces new fines related to the Iraq scandal and associated ...

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