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Ericsson shares rally on AT&T network deal, Nokia drops

By Danilo Masoni

(Reuters) – Ericsson shares rallied in early trading on Tuesday after AT&T chose the Swedish telecoms equipment maker over Finnish rival Nokia to build a network under a five-year deal that could see spending reach $14 billion.

Ericsson rose around 8% on German trading platform Tradegate, while Nokia fell 9%.

Ericsson shares rally on AT&T network deal, Nokia drops
FILE PHOTO: A logo of Ericsson is seen outside the company’s office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo