STOCKHOLM/MOSCOW :Ericsson said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecoms equipment maker completes its obligations to customers.
More and more Western companies are selling their Russian businesses after announcing suspensions of operations in the weeks after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. Ericsson, which had sent its employees on paid leave earlier this year, also recorded 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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