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Ericsson shares drop after new report on alleged ISIS payments sparks downgrade

Ercisson group head office

Roland Magnusson/iStock Editorial via Getty Images

Ericsson (NASDAQ:ERIC) fell 8.8% in premarket trading after a new report over the weekend revealed more details about alleged payments the telecommunications company made to ISIS. The company was also cut to neutral

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Comments (4)

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JimmyJS profile picture
Considering that Nokia, Ericsson and Samsung are the only non-China 5G players left, the free world is better off not damaging the companies themselves - go for the managers involved, including sending them to jail if necessary, but why damage the company with punitive damages? Same with Boeing - go for the individuals - why damage a strategic western company while China is waiting to eat your lunch?
Hans Vestberg was CEO of Ericsson from 2010-2016.
He moved to Verizon and became CTO in 2017 and became later CEO in 2018 till present.

1) During his reign at ERIC he was fully responsible for all the bribery going on
2) At VZ he first dumped long-time telecom partner Nokia in a $ 6 B. deal and selected newcomer Samsung to the astonishment of analysts and NOK investers
3) Then he selected his former employer ERIC in another $ 6 B. deal.

If you connect the dots, not only the Ericsson deals should be investigated, but also the VZ deals with Samsung and Ericsson.
@Dutch critic I agree 💯 %
superartus profile picture
@Dutch critic he's a big fraud and I'm not sure why the hell VZ picked him up.
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