Tax probe at phone giant Ericsson

TELECOMS equipment maker Ericsson is being probed over possible accounting discrepancies. Sweden's financial crimes unit said it was investigating Ericsson on suspicion of obstructing the tax authorities over payments to consultants in 1999.

It said the probe centres on 33 invoices totalling 2.5bn kronor (£170m), and that Ericsson may have used the consultants as intermediaries for other undisclosed payments.