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. Last Updated: 07/27/2016

Swedish Firm Bought

STOCKHOLM, Sweden -- Swedish telecom equipment maker Ericsson has agreed to sell its 25 percent stake in Swedish wireless delivery system maker Across Wireless to Finnish telecom Sonera, Ericsson said Tuesday.

The merged entity of Across Wireless and Sonera unit Sonera SmartTrust Ltd. is planning a flotation, and Ericsson plans to invest in the initial public offering, it said in a statement.

The present transaction gives Sonera full ownership of Across Wireless as another shareholder, private equity group Schroder Ventures, is also selling its stake.