Investor AB, the investment firm founded by Sweden’s powerful Wallenberg family, bought 25 million shares in Ericsson AB for 1.57 billion Swedish kronor ($146 million), betting that Chief Executive Officer Börje Ekholm’s bid to turn around the business will pay off.
The Stockholm-based firm — which counts cousins Jacob Wallenberg and Marcus Wallenberg as its chairman and vice chairman respectively — bought the stock at 62.75 kronor a share, according to a filing on Tuesday. That takes their overall stake in Ericsson to 8.7% of the capital and about 24% of the votes, a spokesperson said.
The investor ...
