Ericsson's provision for U.S. probe hints of smaller fine, shares jump


FILE PHOTO: Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg//

STOCKHOLM (Reuters) - Ericsson said on Thursday it would book a 2.3 billion Swedish crown ($220 million) provision for an expected fine from U.S. authorities for the breach of a settlement reached in 2019.

Ericsson's share price surged 7.7% in afternoon trading, as analysts had expected a larger fine similar to the $1 billion it paid in 2019 as part of a bribery settlement.

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