VG - Ericsson CEO still expects Vonage deal to close in 1H of year

Ericsson (NASDAQ:ERIC) CEO Borje Ekholm still expects that company's planned purchase of Vonage (NASDAQ:VG) will close in 1H of the year, pending CFIUS approval. Ekholm said the telecom company still can't assess the size of the possible fine it may receive from the U.S. in regards to the alleged Iraq bribery scandal, according to comments he made in an interview with Bloomberg TV. Vonage (VG) agreed in November to a $6.2B sale to Ericsson (ERIC). Investors have been concerned that a national security or CFIUS review of the $21/share deal could be delayed due to the report on ISIS. Ekholm said on a conference call early last month as far the Vonage deal is concerned "we believe that we can proceed as per before," according to a Bloomberg report at the time.

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Ericsson CEO still expects Vonage deal to close in 1H of year