Ericsson Faces a Lawsuit from Russian Telco Tele2 over Exit from the Market

Ericsson gear was provided to Tele2 by the Russian business Satel TVK. The Moscow Arbitration Court was notified of the complaint. In an effort to find a resolution, Tele2 claimed it had been in discussions with Ericsson for eight months, but the business had made no useful suggestions.

Highlights

  • The Russian telecom company Tele2 has filed a lawsuit in Moscow against Ericsson (ERICb.ST) for what it claims is the Swedish company's failure to uphold equipment supply agreements.
  • The majority of the unfulfilled orders for equipment were before sanctions were put in place.
  • They are aware of a legal dispute that has been mentioned in Russian news outlets, but we are unable to comment further at this time.

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Ericsson

As per Tele2 executives speaking to Reuters on Friday, the Russian telecom company Tele2 has filed a lawsuit in Moscow against Ericsson for what it claims is the Swedish company's failure to uphold equipment supply agreements. They are aware of a legal dispute that has been mentioned in Russian news outlets, but we are unable to comment further at this time.

Further Information Regarding the Pullout

A penalty of 900 million Swedish crowns ($81 million) and the layoff of 400 local employees were announced by Ericsson as part of its announcement that it would cease operations in Russia in April and complete its exit from the market in the coming months. After hearing rumours that the company had kept exporting to Russia, Ericsson responded in September by claiming that while it was still offering software and technical support to its Russian clients, it had stopped selling telecommunications equipment to Russian mobile operators as of February 24, when Moscow sent tens of thousands of troops into Ukraine.

In a statement to Reuters on Friday, Tele2 stated that they had begun legal action against Ericsson Corporation and Satel TVK as a result of the businesses' refusal to uphold their equipment-providing responsibilities. The majority of the unfulfilled orders for equipment were before sanctions were put in place.

Ericsson gear was provided to Tele2 by the Russian business Satel TVK. The Moscow Arbitration Court was notified of the complaint. In an effort to find a resolution, Tele2 claimed it had been in discussions with Ericsson for eight months, but the business had made no useful suggestions.

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