Ericsson makes $220 million provision in Q4, shares rise

Ericsson makes $220 million provision in Q4, shares rise

STOCKHOLM (Reuters) – Telecom gear maker Ericsson said on Thursday it would book a 2.3 billion Swedish crown ($220 million) provision in the fourth quarter related to a potential Deferred Prosecution Agreement breach resolution with the U.S. Department of Justice.

Ericssons share price surged on the news, rising 6.5% by 1310 GMT.

($1 = 10.4692 Swedish crowns)

(Reporting by Anna Ringstrom, editing by Terje Solsvik)

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