Ericsson backs Sony to buy mobile venture

Thu May 7 2009, 17:32 PM

Ericsson says Sony is the “logical” choice to buy the firms' joint mobile venture, Sony Ericsson – the third largest mobile manufacturer in the world. Both companies have affirmed their commitment to the venture and say they are willing to pump more funds into the company or act as guarantors on loans to bolster the company’s finances. However, mounting losses from the business are forcing the partners to address contingency plans should the venture prove unsustainable.

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