Ericsson jumps 7% on the OMX, buoyed by the announcement of a five-year contract with AT&T to deploy an Open Radio Access Network (Open RAN) in the USA, during which the operator's expenditure could approach $14 billion.

The Scandinavian telecom equipment manufacturer will 'further the efforts of the telecom industry and help build a more robust ecosystem of network infrastructure providers and suppliers', according to AT&T.

As part of the contract, Ericsson will leverage its 5G smart factory in Lewisville, Texas, to manufacture 5G equipment. Opened in 2020, this plant powered by renewable electricity was recently expanded.

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