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BRIEF-Cevian says wants higher ambition for cost reductions at Ericsson
November 8, 2017 / 7:56 PM / 15 days ago

BRIEF-Cevian says wants higher ambition for cost reductions at Ericsson

Nov 8 (Reuters) - Activist investor Cevian Capital’s Christer Gardell in e-mail to Reuters:

* Says disappointed Ericsson extends time horizon for reaching margin targets

* Says wants to see significantly increased execution pace, higher ambition for cost reductions

* Cevian is Ericsson’s biggest owner by capital

* Ericsson on Wednesday pushed back its profit margin target by two years, dampening hopes of a quick recovery in its fortunes despite sweeping cost cuts Further company coverage: (Reporting by Stockholm Newsroom)

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