3/13/2008 5:42:00 PM
Ericsson to leave the London Stock Exchange
Ericsson is to delist from the London Stock Exchange (LSE) after nearly 50 years of trading.
The Swedish telecoms manufacturer will remove its shares from the LSE on 14 April with all stock will then be concentrated on the OMX Nordic Exchange Stockholm and the Nasdaq
The company has traded series B shares – typically stock with lower company voting rights for shareholders - on the LSE since 1960.
But Ericsson said in recent years, trading in the company's series B shares on the LSE has corresponded to less than 1% of the total trade in the company's series B shares.
Bosses took the decision that this does not justify the costs of maintaining the listing.
Ericsson shares have previously been delisted from the stock exchanges in Paris and Zürich as well as three German exchanges.