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UPDATE 2-NORDIC STOCKS - Factors to watch on Nov 16
November 16, 2015 / 7:58 AM / 2 years ago

UPDATE 2-NORDIC STOCKS - Factors to watch on Nov 16

(Adds Det norske) The following stocks may be affected by newspaper reports and other factors on Monday:

DET NORSKE OLJESELSKAP

The Norwegian oil firm is to buy Premier Oil’s Norwegian business in a $120 million cash deal, it said on Monday.

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MEDA

The Swedish drug maker said a license agreement with Canada’s Valeant was of minor importance to Meda overall and that less than 20 percent of licensed products have been distributed by Philidor after confirming to Reuters on Friday that the specialty pharmacy had been distributing the products.

Philidor is a specialty pharmacy used by Valeant and which will cease operations by the end of January.

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ERICSSON, CISCO

The two companies have not discussed a merger or an acquisition by Cisco of Ericsson, the Swedish mobile network equipment maker said on Monday.

Earlier this month the two agreed a business and technology partnership aimed at generating $1 billion in extra revenues for each company by 2018.

“The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition,” Ericsson CEO Hans Vestberg said in a statement.

Ericsson’s U.S. depository receipts surged on Friday after Swedish business daily Dagens Industri said Cisco was looking to buy Ericsson.

The ADRs fell back again after Cisco denied the report.

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Reporting by Copenhagen, Oslo, Helsinki and Stockholm newsrooms; Editing by Simon Johnson

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