Ericsson suspends all business in Russia

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Swedish telecom equipment maker Ericsson said its employees in Russia will be placed on paid leave.

"In the light of recent events and of European Union sanctions, the company will now suspend its affected business with customers in Russia indefinitely," it said in

a statement.Ericsson said it would record a 900 million crown provision in the first quarter for impairment of assets and other exceptional costs related to the move.

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