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Ericsson to buy LG-Nortel JV stake-report

Sweden's Ericsson (ERICb.ST) will buy a controlling stake in a joint venture between South Korea's LG Electronics (066570.KS) and Nortel Networks Corp, the Seoul Economic Daily's Web service reported Thursday.

Technology

Ericsson will announce an agreement on Friday to buy a 50 percent stake plus one share in LG-Nortel from Nortel, the newspaper said, without specifying sources.

Ericsson representatives were not immediately available for comment. A LG spokesman declined to comment. (Reporting by Rhee So-eui and Miyoung Kim; Editing by Jonathan Hopfner)

http://www.reuters.com/article/idUSSEL00302420100318