Ericsson to move HQ to London

Ericsson to move HQ to London

ERICSSON, the Swedish telecoms group, is transferring a large part of its corporate headquarters from Stockholm to London. The company's president and chief executive will have offices in London as well as the Swedish capital, and London will also become the location for Ericsson's finance department. London will also serve as one of four regional offices covering Europe, Africa and the Middle East. Peter Mandelson, Secretary of State for Trade and Industry, welcomed Ericsson's move as a vote of confidence in Britain following Shell's decision to close its London headquarters.