Ericsson, the Swedish telecom gear maker is exiting optical fibre joint venture Birla Ericsson Optical through sell of its entire stake to two other promoter group entities.

Ericsson Network Technologies (ENT) which is subsidiary of Ericsson, is selling its 27.5 percent shareholding in Birla Ericsson Optical to Universal Cables Limited and Vindhya Telelinks Limited.

Birla Ericsson Optical said in a BSE filing that “Universal Cables Limited (UCL) and Vindhya Telelinks Limited (VTL) have intimated the company that they have executed a Share Purchase Agreement (SPA) with Ericsson Network Technologies (ENT), AB for the acquisition of entire shareholding of ENT in the company.”

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