Ericsson rumoured close to Fore buyout

Telecommunications giant L.M. Ericsson is rumoured to be close to acquiring backbone data networking specialist Fore Systems.

One Fore official confirmed mounting industry suspicions the company is in play, while other sources report around 43 million of its shares have moved over the last few days. The company typically trades around one million shares a day.

The Fore executive who didn't want to be named told Network World Today, "I'd say that the rumour has got a lot of substance to it."

However, he doesn't believe the rumoured buyout will occur until early April.

"If we start releasing our results a couple of days into April, then you'll know something's going on," he said.

Ericsson officials did not respond to interview requests by this morning's deadline.

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