Ericsson gets enough shares in Tandberg takeover

Ericsson received acceptances for 87.4% of Tandberg Television's shares and will complete its takeover bid for the Norwegian company, an Associated Press report said.

The Associated Press report said Ericsson would waive a condition for a 90% acceptance rate set out in its original cash offer in February, and will complete the buy-up from those shareholders that accepted the voluntary bid for 106 kroner ($17.35) per share.

It will then continue with a mandatory offer for all remaining shares, the report added.

Ericsson has said the acquisition of Tandberg would help make it a leader in IPTV, TV delivered over a broadband connection.

Such broadcasts are expected to be one of the major markets for the telecom industry in the future, as television moves increasingly to mobile phones and computers, the report said.

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