Ericsson, the indebted Swedish telecoms equipment manufacturer, has applied to delist from Euronext Paris, the Düsseldorf, Frankfurt and Hamburg exchanges and the Swiss stock exchange, as part of its cost cutting programme.

More than 99% of Ericsson shares trade on the Stockholm Börse, Nasdaq and the London Stock Exchange. The firm said in a statement: "In France, Germany and Switzerland the trading volumes are insignificant and do not justify the costs associated with the listings."