Skip to content

Ericsson Shares Crash After CEO Says Firm May Have Paid ISIS

  • Company hasn’t yet determined final recipient of money
  • Shares in the Stockholm-based company fell as much as 14.5%
Borje Ekholm
Borje EkholmPhotographer: Paul Miller/Bloomberg
Updated on

Ericsson may have made payments to the ISIS terror organization to gain access to certain transport routes in Iraq, in a shock admission following years of regulatory investigations.

Shares in the Stockholm-based company were down almost 14.5% around lunchtime on Wednesday, its biggest drop in a day since July 2017.