VG - Vonage falls on report on potential timing delay for sale to Ericsson on bribery probe

Vonage (NASDAQ:VG) dropped 1.8% on a report that the company's sale to Ericsson (NASDAQ:ERIC) could be potentially delayed due to the bribery investigation. Ericsson (ERIC) doesn't know when the U.S. the government's foreign bribery investigation into the company will finish, which could impact the CFIUS review of the transaction, according to a CTFN report. Last Friday Ericsson (ERIC) and Vonage (VG) extended the deal termination date for their combination by three months until Aug. 22. The termination date was extended as the company awaits CFIUS approval for the acquisition. 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 concerns over the allegations that Ericsson made payments to terror group ISIS in Iraq. Ericsson (ERIC) CEO Borje Ekholm last month said that he still expects that company's planned purchase of Vonage will close in 1H of the

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Vonage falls on report on potential timing delay for sale to Ericsson on bribery probe