Ericsson to sell its stake in Sony Ericsson, Sony becoming the sole owner

Ericsson has announced that it's selling its part of the joint Swedish-Japanese venture Sony Ericsson for $1.47 billion (1.05 billion euros). The Japanese Sony Corporation will become the sole owner of the phone maker in an attempt to boost its mobile portfolio.
"Sony will acquire Ericsson's 50 per cent stake in Sony Ericsson... making the mobile handset business a wholly-owned subsidiary of Sony," Ericsson said. The decision has already passed approval of both companies' boards, but it's, of course, yet to pass regulatory approval by January 2012. The deal evaluates the whole of Sony Ericsson at around $3.0 billion, almost four times less than what Google paid to acquire Motorola Mobility.
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