(Associated Press via NewsEdge) Ericsson said it received acceptances for 87.4% of Tandberg Television's shares and will complete its takeover bid for the Norwegian company.
Ericsson said it would waive a condition for a 90% acceptance rate set out in its original cash offer in February, and will complete the buy-up from those shareholders that accepted the voluntary bid for 106 kroner ($17.35) per share.
It will then continue with a mandatory offer for all remaining shares, the company said.
Ericsson has said the acquisition of Tandberg would help make it a leader in IPTV, TV delivered over a broadband connection.
Such broadcasts are expected to be one of the major markets for the telecom industry in the future, as television moves increasingly to mobile phones and computers.
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