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Sweden: Ericsson quashes report of merger talks with Cisco

By  |  November 16, 2015

Ericsson AB Monday quashed a weekend media report that claimed Cisco Systems was seeking to buy the Swedish networking giant, saying there haven’t been any merger talks.

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    An article by Swedish daily Dagens Industri had suggested that Cisco wanted to reach agreement with Ericsson’s board and major shareholders on a possible takeover of the company.

    “We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies,” said Ericsson Chief Executive Hans Vestberg.

    “The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition,” Mr. Vestberg said in a statement on Monday.

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