World Business Briefing | Europe: Sweden: Bid for Web TV Concern
The telecommunications equipment maker Ericsson offered 9.8 billion crowns ($1.4 billion) for Tandberg Television of Norway, topping an earlier bid from the Arris Group. Ericsson, which is based in Stockholm, said it was bidding 106 Norwegian kroner ($17.23) for each Tandberg share. The offer is 10.4 percent above the 96 kroner offered by Arris, a communications technology company based in the United States, Ericsson said. Tandberg, which is based in Lysaker, offers a range of video and TV services over the Internet.