Schroder Salomon Smith Barney (SSSB) has completed a €305m ($298m) block trade for Ericsson while the bank is also jointly leading the Skr30bn (€3.3bn) rights issue for the Swedish telecoms company.

Ericsson received 27.5 million shares in Infineon Technologies, the German semi-conductor manufacturer, when it sold its microelectronics operation to Infineon for €400m ($390m) in a June share-based deal. The Swedish firm said on Thursday it had entered into a forward sale agreement for the Infineon stock with SSSB "under which it will receive gross cash proceeds of €305m".