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Ericsson shares edge up on Marconi bid reports

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10/10/2005 08:04

STOCKHOLM (Reuters) - Shares in telecom equipment maker Ericsson edged slightly higher at market opening on Monday after newspaper reports that it is in talks to buy smaller rival Marconi .

Ericsson shares rose 1.1 percent to 28.3 crowns by 08:07 BST, outperforming the Stockholm bourse’s blue chip OMXS30 <.OMXS30> index which rose 0.3 percent.

Marconi shares rose 10.3 percent to 340 pence.

Both companies have refused to comment on the reports.

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