The Swedish manufacturer of telecommunication equipment Ericsson AB, whose credit rating was lowered to the "garbage" level in May 2017 due to high restructuring costs, instructed banks to explore the possibility of selling their media business, Bloomberg reported citing informed sources.

According to knowledgeable people, the matter is handled by experts from Morgan Stanley. In addition, Ericsson hired Goldman Sachs to find potential buyers for Ericsson Broadcast & Media Services, which specializes in television and media services.

According to sources, some investment funds show interest in buying a business, as well as technology companies. However, the development of the plan is at an early stage, and Ericsson can still change its decision and retain assets.

Representatives of Ericsson, Morgan Stanley and Goldman Sachs declined to comment on the information.

In March of this year, Ericsson CEO Borje Ekholm said that he is considering selling a media business whose growth has recently stalled. In order to bring the company out of the crisis, Ekholm promised to get rid of unfavorable contracts for wireless services for a total of more than $ 1 billion, and also transformed the management structure and halved the number of regional units.