Investor Slashes Losses
Sweden’s giant Investor industrial holding company has reported its net loss for the first quarter this year is only two-thirds as bad as for the same period in 2008.
For the January to March period 2009, Investor reports a loss of 368 million dollars. That compares to more than one billion dollars a year ago.
Investor, which is controlled by the influential Wallenberg family, holds stakes in more than 130 companies worldwide.
Among its main holdings are the Swedish-Swiss engineering group ABB, the Anglo-Swedish drugs company Astra Zeneca, and the world leader in telecoms networks, Ericsson. (gw)