Editing Ericsson (section)

===Wallenberg era begins===
Ericsson was saved from bankruptcy and closure with the help of banks including [[Stockholms Enskilda Bank]] (now [[Skandinaviska Enskilda Banken]]) and other Swedish investment banks controlled by the [[Wallenberg family]], and some Swedish government backing. [[Marcus Wallenberg Jr.]] negotiated a deal with several Swedish banks to rebuild Ericsson financially. The banks gradually increased their possession of LM Ericsson "A" shares, while [[ITT Inc.|International Telephone & Telegraph]] (ITT) was still the largest shareholder. In 1960, the Wallenberg family bought ITT's shares in Ericsson, and has since controlled the company.<ref name="history" />