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acquisition

English translation: buying of companies

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19:16 Feb 21, 2005
English to English translations [PRO]
Bus/Financial - Telecom(munications)
English term or phrase: acquisition
Do they mean shares or something else here?

Ericsson warns gloom will continue

Ericsson, the world's largest mobile telephone equipment company, warned yesterday of a risk that there would be no improvement in market conditions next year.

The comments by Kurt Hellström, chief executive of the Swedish group, extended the gloom that has engulfed the telecoms industry in the past 18 months. The company's shares hit their lowest level since September 1996 ahead of a meeting to ask shareholders for SKr30bn ($3.1bn) - equivalent to about 18 per cent of its current market value - to see it through the downturn.

Mr Hellström will tell shareholders tomorrow that the mobile telecoms sector's outlook has shown no improvement as the drought in orders from cash-strapped operators continues. "We don't think the market has become worse but the downturn has been prolonged. We have to face the possibility that next year doesn't turn upwards," he told the Financial Times.

He said this was a "conservative" scenario and the group was still counting on returning to profit "some time next year" after two years of losses. But he added that short-term market turmoil should not obscure the long-term growth prospects for the sector.

Operators urgently needed to invest because "the quality of networks is degenerating almost everywhere, and particularly in western Europe". He was also optimistic about the potential for 3G services, predicting that in 2005 there would be "massive use of 3G".

Mr Hellström said Ericsson would use the rights issue proceeds to strengthen its balance sheet and ensure adequate working capital for when market conditions improved. "This is not about converting black holes. We will cover any losses from savings and cost-cutting".

The company said in April it would cut a further 20,000 jobs, taking the total number of cuts announced since the start of last year to 42,000.

Mr Hellström also denied that the company was planning any big acquisitions. Ericsson is likely to win support for the issue, after its recent move to defuse a potential rebellion over voting rights. It has promised to examine the case for reducing the wide voting differential between A shares and B shares from the current 1,000-1 to 10-1.
Miroslawa Jodlowiec
United Kingdom
Local time: 19:47
English translation:buying of companies
Explanation:
standard definition of acquisitions in financial context

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Note added at 5 mins (2005-02-21 19:21:29 GMT)
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this glossary may help you

Acquisition
The acquiring of control of one corporation by another. In unfriendly takeover attempts, the potential buying company may offer a price well above current market values, new securities and other inducements to stockholders. The management of the subject company might ask for a better price or try to join up with a third company
http://www.fromallangles.com/glossary/investing/terms/acquis...
Selected response from:

RHELLER
United States
Local time: 12:47
Grading comment
Thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3buying of companiesRHELLER
3 +1buying action
Clauwolf
3see explanationSandra Schlatter


  

Answers


3 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
see explanation


Explanation:
It could be anything, but it's more likely to be other companies or any type of major assets.

Sandra Schlatter
Local time: 19:47
Native speaker of: Native in GermanGerman
Login to enter a peer comment (or grade)

4 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
buying action


Explanation:
:)

Clauwolf
Local time: 15:47
Specializes in field
Native speaker of: Native in PortuguesePortuguese

Peer comments on this answer (and responses from the answerer)
agree  Bjørn Anthun
14 mins
Login to enter a peer comment (or grade)

3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
buying of companies


Explanation:
standard definition of acquisitions in financial context

--------------------------------------------------
Note added at 5 mins (2005-02-21 19:21:29 GMT)
--------------------------------------------------

this glossary may help you

Acquisition
The acquiring of control of one corporation by another. In unfriendly takeover attempts, the potential buying company may offer a price well above current market values, new securities and other inducements to stockholders. The management of the subject company might ask for a better price or try to join up with a third company
http://www.fromallangles.com/glossary/investing/terms/acquis...

RHELLER
United States
Local time: 12:47
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20
Grading comment
Thanks!

Peer comments on this answer (and responses from the answerer)
agree  Alaa Zeineldine
8 mins
  -> thanks Alaa :-)

agree  Will Matter
32 mins
  -> Happy President's Day!

agree  Mohamed Gaafar
2 hrs
  -> thank you!
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